There are numerous reports on Google that highlight that Recruitment Consultants are typically the most stressed employees in the UK.
We thank Personnel Today for pointing that out back in 2008, and paving the way for many bloggers and writers to continue to periodically remind us of this every now and again.
With this made quite clear, it begs the question of why people would inflict such pain on themselves? Money seems the most obvious answer (and the right one!)
The hope that you are going to make a big placement is why many Consultants will continue to tolerate such a stressful job. It’s the light at the end of the tunnel which means that you’re going to finally go home with a worthwhile fat pay cheque.
The Basic and OTE
Depending on the company you’re working for your basic salary will differ. When you look at just the basic, it will seem very low for a job that has the potential to turn you grey before the age of 30.
Basic Salary is essentially the money that you’re guaranteed to get whatever happens, and OTE is what you have the potential to earn if ‘you’re on target’.
In a sales based job, the OTE is where the real doe is at. When you make a placement, you get a % of that person’s salary which bumps your basic up. If you make two or three placements in a month for example and the candidates that you have placed are senior folk, then your monthly pay cheque is going to look very healthy.
Stats & Figures
If you know people in the industry already, everyone is on a salary that tends to be slightly different. There’s not actually been much solid research conducted on Recruitment Consultant’s salaries that’s credible. With a bit of research on the net however, you might come across a survey which was conducted by the Recruitment and Employment Confederation (REC) back in 2013.
The salaries and benefits of consultants and managers was analysed across the industry, and the results were published and made clear for everyone to see and scrutinise.
Depending where in the country your based, and the sector of recruitment you work in, the results can be quite enlightening or depressing.
Location vs Sector
Unsurprisingly, Londoners are the better off Consultants geographically – typically earning an average salary of £29k. If you’re based in the Midlands however, you’ll be on a wage of £25k on average. Considering that the cost of living is slightly lower this doesn’t seem too bad, but knowing that your Northern neighbours are also on a salary of £29k is definitely quite depressing (depending on where your roots are of course…)
If you happen to work within the Professional/ Business Services industry, or within healthcare, you have the potential to do the best as these industries are the most profitable.
If you’re working the Clerical, Sales and Retail industries, you’re the worst off. The industry you’re working is the least profitable – meaning that your placements will make you less money.
If you’re in Recruitment already, this would be a good time to reflect. If you’re in Derby and have been trying to fill a retail job for the last couple of weeks, it might be time to sit down with your manager tomorrow and tell them you really need to branch out onto other things…
Other Benefits & Rewards
But is it all about cold hard cash?
Like a lot of jobs, you can expect other benefits to tie in nicely with your healthy Pay Slip. Obviously this depends on your company, but if you’re considering going into recruitment, it’s wise to do your research on company culture first.
You are expected to work hard during work hours and making a placement is not easy. To thank you for this hard work, many companies organise social events, parties, team drinks, and other benefits to keep the team spirit alive and to keep you motivated.
According to REC, offered incentives have increased considerably in recent years. This could be down to the increase in competition (there are over 8000 recruitment companies in the UK for example) and so business owners understandably want to keep you in their company rather than push you towards a competitor. In general, though, recruitment seems to be a generous sector for rewards and if you’re the social sort, this alone can be enough to get you through those dry placement spells.
For a lot of people, work is not just about the money, but also who you spend every day sitting next to. If you can have a laugh and joke, and also have the OTE dangling in front of you like a carrot on a stick, its win-win right?