Retaining talented recruiters is a critical component to your staffing agency’s success — and to that of your customers. But how do you know if you are paying competitive wages? And how frequently do your employees expect compensation increases?
Of all the metrics that matter to staffing agency professionals, salary information ranks at the top of the list. Thanks to a recent report by Bullhorn, staffing agencies can now get a better idea of where they stand in terms of total compensation according to industry, job roles and agency size.
Conducted as part of its research for the 2014 North American Staffing and Recruiting Trends Report, Bullhorn compiled survey results from 1,337 recruiting agency professionals to create “Money Talks: The 2014 Compensation Report.” The report analyzes a number of compensation benchmarks within the recruiting industry, including compensation expectations for 2014, performance year over year, and the real kicker — what industry professionals actually made in 2013.
Here are some key findings from the report.
Compensation expectations for 2014
- Recruiting professionals were more optimistic about raises in 2014 than in 2013 or 2012.
- 84 percent of respondents expected a pay increase in 2014.
Compensation performance in 2013
- By industry type, respondents focused on telecommunications saw the most increase in compensation (69 percent got an increase last year), while those in packaging and transport recruiting saw the smallest increase (42 percent saw an increase).
- Fewer respondents saw an increase in compensation from 2013 over 2012 than in the previous year.
Actual compensation figures
- Salespeople and account managers (regardless of industry) made, on average, more than recruiters ($92,000 versus $74,000).
- CEOs at large firms made the second-highest salaries among their peers ($154,000). Only CEOs of lower-midsize firms (11-25 recruiters and salespeople) fared better, with an average compensation of $215,000.
- Recruiters at large firms made the least among their peers (an average compensation of $62,000).
To learn more about where your agency’s compensation ranks, click here to download the full report for free.