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TOP STORIESSome of the richest people in the City are headhunters10 July 2008COMMENTSThe article isn't saying that Mr. average recruiter is earning £477k. It's saying that the average recruiter who's a client of this particular wealth manager is earning £477k. Given only better off recruiters are likely to require wealth managers in the first place, it's inevitable that this will be a snapshot of what's going on at the top of the market. Read all comments »If you want to make big money in life, the best careers to go for are (in descending order): trading, ‘general finance’ (AKA all areas of finance that aren’t trading or insurance), law, and…recruitment.
Based on pay figures drawn from clients of wealth manager ‘The Route’, the average top end trader is earning £1.5m, the average top end ‘general financier’ is earning £1m, the average top end lawyer earns £572k, and the average top end recruitment person is taking home a pleasing £477k.
Everyone knows that traders, bankers and lawyers are big money earners, but who are these wealthy recruiters? Victoria Jackson, business development manager at Route, says they’re mostly City headhunters.
Daniel Whomes, director of search to search firm The Ocean Partnership, says £477k is eminently possible for headhunters in the right place at the right time: “To earn that kind of money you need to be with the right firm, work the right market and have been building up a network of people for a number of years. The figure would be much lower at a contingent recruitment firm, due to fee size.”
Shaun Springer, chief executive of fixed income search firm Napier Scott, says £477k is the top of the market: “There are some people here earning that kind of money, but there are plenty more who aren’t. It's a commission-based industry so I'd love to be paying that out as an average.”
COMMENTSano, Trading, Thu 10 Jul 08what a loser who made 7M quid and spends time on EFin.. doesnt he have a life! or is he just fibbing Add your comment »Alexandra, HR & Recruitment, Thu 10 Jul 08I am a successful headhunter within the IT Investment banking Arena (4years and still going..), and no way am I earning that sort of money....I must be doing something wrong or work for the wrong company, but since I am doing a great job and my company is very successful I would say the article is slightly out of digits... Sorry to disappoint peeps but in my world the "average" earnings for a top biller (billing 1Mio ££ a year) is £250 -£300K depending on the agreed commission with your Boss! Add your comment »Alexandra, HR & Recruitment, Thu 10 Jul 08"The "AVERAGE" top end recruitment person........." Well Sarah, this sentence in itself is confusing.... So do you mean "average" or top end?! Add your comment »A veteran Recruiter, HR & Recruitment, Thu 10 Jul 08what twaddle, what a pointless article, if there are top end recruiters earning this level of remuneration they are the very privileged few, NOT the average .most financial institutions have a cap on their fee structure , hence this is more representative of a good recruiters billings as previously stated. Add your comment »Mariusz Pudzianowski, Trading, Thu 10 Jul 08All this hullabaloo could have been avoided if the survey had reported the median salary, and not - as seems likely - the heavily skewed mean. Add your comment »Mr Search, HR & Recruitment, Fri 11 Jul 08I dont think the argument is whether the article is correct, if read properly it makes sense and in fairness to the Editor i sit between 2 senior search consultants who both earnt over 7 figures last year (that correlates to over 2.2mm in billings on our scheme). I think the point should be - why run this article in a time when recuiters are under the microscope and such facts could be detrimental - especially when they make up a signifiant portion of the efinancial reader/ subscriber demographic?! Add your comment »Dr It, Sales & Marketing, Fri 11 Jul 08If you're a the top of the game in recruitment sure. However, there's much more to be made than that through agency ownership. For top recruiters I've seen guys bill £800K and £1.2M. On the company commission scheme at the time £400-500k was very achieveable. To do that consistently year-on-year and in this market is another story. Add your comment »Curious Recruiter, HR & Recruitment, Fri 11 Jul 08Sarah,
pards schmards, Asset Management, Fri 11 Jul 08pards needs to take his ruler out of his rear end.. Add your comment » |
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