01
A retainer pays us for effort
Retained search bills in three parts, and the second and third arrive whether or not the shortlist was any good. We've been on the client side of that. The money arrives before the value does, and by month two nobody is motivated to say "this search isn't working".
02
Contingency pays us for speed
Pure contingency at 25% pays whoever gets a CV in first, which is why you get forty of them. It rewards volume over judgement, and it is the reason recruiters have the reputation they have.
03
20% on a start date pays us for the hire
We only get paid if someone starts, so we can't bill for effort. And because the fee doesn't rise with volume, sending you forty CVs earns us nothing — sending four good ones earns the same as sending four hundred bad ones would, minus your goodwill.
04
The bit that isn't flattering
A percentage fee means we earn more when the salary is higher, and you should know that when we tell you your band is light. Two defences: we publish our band data so you can check us, and we've talked four clients out of a hire entirely, which paid us nothing at all.