Recruiters can be broadly divided into 3 types. Of these one type outnumbers the others by a ratio of 10:1:1.
Contingency: This is the prevalent species amongst the recruiters. the chances are that if you have interacted with a recruiter – this is the type you are most likely to have dealt with.
This recruiter does an Employee search on a contingency basis.( Meaning : dependence on chance or on the fulfillment of a condition; uncertainty; fortuitousness). the recruiter gets his fee only on the successful placement of a candidate. The payment is usually a percentage of the 1st year salary or a flat fee(rare). the key thing to note is that the Job Seeker does not pay a fee.
This type of recruiters are a rarer breed found mostly in the stratosphere and come with fancy anglicized names.
Here the client firm pays a fee to retain the services of this recruiter.
Part of the search fee is paid upfront at the start of the search and the remainder after the placement has been made. Typically very senior level positions in the corporate go in for retained searches.
there are a few other kinds of recruiters which do not fit into any specific definition – those will be discussed in future posts.
and then there is the mighty dragon – called the “Head Hunter” which everyone would have heard about but never met face to face .
all that will be discussed in due course ..