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November 03, 2006

Make $300,000 Per Head as a HeadHunter

posted by MR WAVETHEORY at 11/03/2006 02:49:00 AM
The job market for investment bankers and traders is so hot in London that headhunters can make as much as $300,000 per head for a new hire. According to Bloomberg,

As banks vie for talent, headhunters are cashing in. City recruiters sometimes charge banks fees of as much as a third of a new employee's first-year compensation, depending on the size of the package. For a candidate making $1 million annually, a headhunter can pull in as much as $300,000. Recruiters take smaller and smaller cuts as compensation rises. Banks across the City have capped the fees they're willing to pay to hold down costs -- and employee pay.

This particular recruiter, Rose, now lives the good life.

These days, Rose enjoys the same trappings of success as the traders and bankers she courts. Her headhunting prowess has landed her on the annual Times of London Rich List, which estimates her personal fortune at 38 million pounds, a figure Rose says is too high. She has a second home in the Swiss Alpine playground of Verbier. Rose, a mother of five, earned 2.2 million pounds in the fiscal year ended on June 30, 2004, according to financial statements filed at Companies House, a registry of U.K. companies.

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