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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.”
COMMENTSgraham, Hedge Funds, Fri 11 Jul 08Personally I think this article is absolute twaddle and Sarah should get out of journalism and into stand-up.... Add your comment »Karim, HR & Recruitment, Fri 05 Sep 08I feel this article is grosly missleading for both clients and candidates. It suggest that all recruitment fees are very high and that we are all walking away with massive bonuses and salleries.
Barry Graits, Asset Management, Fri 05 Sep 08I have no idea what Karim is talking about. Maybe he should use a spell checker or learn English.
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