How Do Executive Search Firms In Milwaukee Get Paid?
It’s a common misconception that using a recruiter is an expense to the job seeker. The truth is that their client, the employer they’re sourcing candidates for, ultimately pays headhunters and executive search firms in Milwaukee.
Here’s how it works.
Scenario 1 – Contingency Basis
This is the most common model of recruiting and is often used for mid-level positions. The employer contracts with an executive search firm to find a candidate for a specific position, and the recruiting firm is not paid until – and if – their chosen candidate is hired. Because there is virtually no risk for employers, they will often contract with several executive search firms to increase the number of qualified candidates they receive. For the recruiters, it’s a competition to find the best candidate in the shortest amount of time, as most fees range from 20-35% of the annual salary.
Scenario 2 – Retainer Basis
This model is often reserved for top-level executive positions where an employer can’t afford to make a hiring mistake. Perhaps they don’t have the internal resources to effectively research candidates, or perhaps they are considering approaching an executive at another company. In any case, an employer pays an executive search firm an up-front fee and often several more scheduled fees as the process progresses. When an employer is searching for a candidate to fill a position that pays upwards of $150,000, it’s not uncommon for the retainer fee to be a total of 33% of the annual salary, paid in thirds.
What It Means To You As A Job Seeker
First, understand that in either case, 100% of the fees are paid by the employer to the search firm, and using a recruiter does not mean your salary will be lower to compensate for the fees. In fact, it’s the opposite. When an employer contracts with executive search firms, they are paying for the recruiter’s time and expertise, and they know they will be getting a highly-qualified candidate in return for the fees.
As a job seeker, this is a great place to be if you’re qualified. If you choose to work with an executive search firm, you will interview with a recruiter and they will decide if you are a potential candidate for any of their clients. While you still have to ace your interview, the search firm’s job is to prequalify you, and they are ultimately putting their reputation on the line to recommend you.
Executive Search Firms In Milwaukee Are Eager To Place You In A New Role
If you’re looking for a new executive position, the Lawler Group wants to talk to you. As one of the top executive search firms in Milwaukee, we place qualified candidates in high-paying positions at some of the best companies in the area. To learn more, email email@example.com or call (262) 241-1600.