The pinned post of starting your firm is lacking some financial aspects. We discussed last year and I thought it could be of use.

The pinned post about starting your own firm could use some more financial details. We had a discussion about this last year, and I think the following breakdown might be helpful. I’ve categorized my thoughts into three tiers:

1. Shoestring Budget

$250/month minimum (no office)

2. Good Setup

$800/month for essential tools + $500-$900/month for office space

3. Money is No Object

$2000-$4000+/month for a top-tier setup + $900-$1400+/month for office space and an assistant (virtual/part-time)

Breakdown of Costs

$250 +/- (assuming you have a laptop/computer; if not, add a one-time cost of $500-$800)

• $79 for Sales Navigator (including 100 InMail)
• Free or $20 for Loxo or Manatal ATS/CRM
• $50 for cell phone
• $50 for internet
• $39 for SalesQL (email/phone lookup)
• $20/year for GoDaddy domain/personal email
• $50+ for cloud storage and miscellaneous expenses

$800/month includes:

• $79 for Sales Navigator
• $200 for a full premium Loxo with all features
• $29 for Grasshopper or similar phone service
• $100 for internet/cell service
• $200-$400 for sourcing systems like Hirez, Seekout, or Chatterworks (with email/phone lookups)
• $50-$100 for cloud/miscellaneous
• $20 for a simple website and Outlook 365 suite

$2000-$4000+/month includes:

• $79-$140 for a higher-level Sales Navigator or $200-$1000/month for Recruiter/Recruiter Lite
• $200 for Loxo
• $200 for a fully integrated office phone system
• $800-$1000 for ZoomInfo Premium
• $100-$300 for cloud storage
• $200 for training programs (e.g., Next Level Exchange/Morgan Consulting)
• $20-$100+ for a website with job board integration
• $200 for Monster/CareerBuilder/Indeed ads

One-Time Costs (vary by budget):

• New computer: $500-$2000
• 2-3 monitors: $300-$2500
• Keyboard/mouse: $100
• Headset: $50-$500
• Desk/stand-up desk: $100-$1000+
• Office chair: $50-$500
• Misc. office supplies: $100-$300

This is based on my 25 years of experience. When I started my firm in 2011, all I had was a cell phone, a GoDaddy URL for email, Google Voice, Google Suite for email/docs/cloud storage, and LinkedIn (which didn’t yet offer Recruiter Lite). I also rented an office, and my total costs, including the office, came to about $600. Today, the total costs (including office space) range from $1300 to $1600, with the office being $800. Costs may vary if I’m hiring a sourcer who earns commissions.

Since this information is a year old, I would now also factor in an additional $50-$100 per month for note transcription services (like Metaview or Otter, around $20-$40) and a ChatGPT Pro subscription ($20), along with a Merlin or MaxAI type assistant ($10-$30).

Quantitative finance firms London?

Looking for top quantitative finance firms in London? Which ones are the best for placements in investment banking, asset management, hedge funds, trading, and research? Let’s discuss!

What percentage of your job orders are exclusive versus non-exclusive?

What percentage of your job orders are exclusive compared to non-exclusive? I’m interested in understanding the breakdown. Does it differ across industries?

Linkedin Recruiter search method improvements?

Enhancing LinkedIn Recruiter Search Methods

I’m currently leading an initiative within our in-house team to boost our productivity with LinkedIn Recruiter searches, which represent a significant 70% of our recruitment efforts.

My focus right now is on identifying and prioritizing channels that yield higher response rates. We’ve experimented with a variety of strategies, including sequenced campaigns (utilizing both built-in features and external tools), engaging content like memes and tech stack overviews, informative PDFs about our company, and varying message lengths.

Our search methodology employs a structured approach that starts with hyper-specific criteria and gradually expands. Here’s what we consider in our searches:

• Role titles and their synonyms
• Precise job locations, followed by progressively broader areas
• Keywords and subsets that highlight specific skills
• Company size, relevant for cultural fit or specific skill sets
• Lists of target companies that share similarities with our ideal candidates
• Companies we’ve successfully hired from in the past
• Firms that those look-alike companies have sourced talent from
• Previous roles candidates held before entering the positions we’re filling
• Relevant degree types
• Target universities and specific university courses

I’d love to hear from you! What strategies are you implementing in your sourcing plans?

What techniques or methods do you and your teams employ to enhance your LinkedIn searches and boost response rates?

Job offer – private sector IT recruitment

Job Opportunity – Seeking Advice on Transitioning in IT Recruitment

Hi everyone! I’ve been with my current agency, a prominent IT recruitment firm in the UK, for a couple of years, focusing primarily on developing a cold desk in the NHS sector. It has been quite a challenge!

Currently, I have a £30k base salary, but unfortunately, I haven’t been able to secure any deals recently. The past six months have been particularly slow, leaving me without any new placements.

I’ve received an offer from a larger agency, which would involve managing existing clients for 50% of my time while dedicating the other 50% to new business development. They are well-established, and the IT team seems to have a strong performance record. However, this role comes with a £26k base salary, with potential bonuses bringing the total to around £38k OTE, and the possibility for growth in the future.

I’m seeking advice because while I’m hesitant to stay where I’m not making any placements—and worried about job security—I’m also concerned about taking a pay cut after having a £30k base. The new role offers growth and access to a solid client base, but the initial salary is daunting.

Any guidance you can provide would be greatly appreciated!

Looking for Work from home oppurtunities in Recruitment

Seeking Remote Opportunities in Recruitment

UK – Registered Nurse Recruitment

UK – Registered Nurse Recruitment

Hey everyone,

I’m excited to share that I’ve recently launched a Registered Nurse recruitment agency in the UK as a side venture while working in Tech Sales.

I’ve begun making a few placements, and I can see the potential for earning more if I take the plunge and focus on this full-time.

My dilemma is whether to leave my current job and go all in on this new venture. I currently enjoy great medical benefits and a solid salary with additional earnings potential in my tech role.

What’s the current market like? Is pursuing this full-time a sustainable option?

I appreciate your insights!

Looking for advice (UK)

Seeking Advice (UK)

Background: I’ve been in recruitment since 2017, working in both agency and in-house roles. My last two positions had salaries between £36k and £37k, but I’m now back on the job market after finishing a contract.

This experience has been incredibly challenging. I’ve applied for hundreds of jobs in my city and had several interviews, but I’ve consistently lost out to candidates who have something extra to offer.

Most of the current job listings I’ve seen are in the mid £20k range. I started my career at £23k in 2017, and recently an agency wasted my time by presenting a role that pays £25k—this is particularly frustrating given that one of my previous roles was as a Recruitment Manager.

I’m feeling quite lost at this point. I’ve tried every strategy I can think of, and since March, I’ve only managed to secure a couple of temporary positions.

If you have any recommendations or advice, I would greatly appreciate it. I feel like I’m struggling to stay afloat. Thank you!

Can you help me close this position?

Subject: Seeking Assistance to Fill Positions

Hi Everyone,

I’m currently looking to fill several open positions in backend engineering and product management. I’m reaching out to agencies and freelance recruiters interested in collaborating on a commission-sharing basis. If you’re interested, please get in touch!

Dean DaCosta’s Start.Me page. A plethora of info for all recruiters (updates sans link)

Dean DaCosta’s Start.Me page is a goldmine of resources for recruiters. If you’re not already acquainted with Dean, he’s a sourcing and Boolean search expert, and he maintains a fantastic resource website called The Sourcing Links (I won’t provide a link, as it goes against the rules).

To find Dean’s Start.Me page, simply search for “dean da costa ssar,” and it should appear on the first page of your search results.

Dean has curated an extensive collection of tools, software, Facebook groups, and more that recruiters can utilize. He also keeps it up-to-date, posting the dates when he adds or modifies links.

If you haven’t checked out Start.me yet, it’s a fantastic tool. It’s free, and I use it as my homepage to organize all my bookmarks and frequently used sites. Many users, including Dean, share their pages, allowing you to easily copy sections or entire pages for your own reference. I’ve saved a few of Dean’s pages, along with an impressive Start.me created by someone focusing entirely on AI, ChatGPT, and NLM resources, which includes a wealth of links to guides, prompt engineering tips, the OpenAI API, AI tool aggregators, and more.

I’m not quite sure how to search for other Start.Me pages, but I’m sure there are many additional pages out there that would be beneficial for recruiters and professionals in business development and sales.