A few years ago I decided I would never talk to recruitment consultants again.
I started talking to recruitment consultants early in my career and overall my experience was always disappointing and a waste of time.
Experience in South Africa
Finance recruiters were not willing to discuss opportunities with me as (at the time) I had not obtained my CA qualification. I was one qualifying exam away, already had 3 years of solid experience but they were not willing to put in the effort to “sell” me to their client.
Experience in Dubai
I was graduating from HULT (Dubai Campus) with an MBA. Eager to find a job, I started reaching out to recruiters 6 months before graduation. Till today, I don’t know the reason, but I got absolutely nothing back from Dubai recruiters. No meetings nor reply to emails.
Experience in Hong Kong
Unless you speak Cantonese or Mandarin, Hong Kong recruiters won’t work with you.
Experience in Singapore
Unless you a PR (permanent resident) or Singaporean, Singapore recruiters won’t work with you. Here are a few emails I got from Singapore recruiters before I moved here
You will observe a common theme from my experience. Most recruiters (or the ones that I have dealt with), are not willing to go the extra mile for candidates. And theirs a good reason for that.
Observation 1
Recruitment agents are paid a commission by company’s looking for talent. And because companies are constantly hiring, every year and multiple times a year, this source of recurring revenue is very important for recruitment firms. Hence they will do everything to protect the company and nurture that relationship.
So if you aren’t an exact fit, in terms of qualification, experience and language, etc. your CV will not make it to the hiring manager or more importantly to the final decision-maker in the business.
Observation 2
A friend of mine was placed in the FS Audit team at a Big 4 in London. He was an exact fit, as he had FS Audit experience and was a native English speaker from South Africa.
However when he revealed his salary, I was shocked. His recruiter advised him that it was market-related and he should not ask for more else risk his chances of getting an offer.
After talking to some friends already working at Big 4 audit firms in London, I learned my friend was getting 15% less than what he could have commanded.
Why would something like this happen?
First we need to understand how Recruitment Agents are paid. Usually 25% of your annual salary (i.e., 3x your monthly salary) , paid by the hiring company and booked as recruitment expense.
So if you expect a salary of $100k p.a., the recruiter gets $25k. But if the Company wants to low ball and pay you a salary of only $90k p.a., the recruiter gets $22.5k.
While that’s a $10k knock for you, thats only $2.5k lower for the recruiter. The incentive for them to fight for you is not worth them risking the relationship with their client.
Remember, you are not their client. You are one-off, their lifetime value from you is minimal compared to the lifetime value of their CLIENT (the company)
So who should you be reaching out to?
The best person you can possibly connect with is… Someone who will be in the room where the final hiring decision is made! Not only can those people refer you in, they can coach you through the interview process and advocate for you when the final hiring decision is made.
Nobody has more say than the people on the direct team you’d be working for. The good news is, you can find them right here on LinkedIn!
Everyweek I host a free online training teaching Accountants how to Break Out of Traditional Accounting & Audit and land roles that are more commercial and strategic (locally or abroad) without needing to talk to recruiters or submit online job applications.
If you interested to join the next run, drop me a text here (click here) and I will add you to the invite list.
ABOUT THE AUTHOR:
Bilal is an internationally renowned coach for aspiring CA’s and CPA’s.
Bilal believes that CA’s are individuals with grit, perseverance and sound business and financial knowledge.
Yet he finds many not achieving their dreams and goals. He created this website to help young CA’s maximise their potential and fast-track their careers.
You might be interested to visit his LinkedIn page https://www.linkedin.com/in/bilalnoorgat/ to learn more about his background.
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