Topic: General Posts

Subject: Paying an Executive Search Firm
Doug Voet
Member: 2012
Posts:1
Submitted on 09-18-12 9:26 am
Message:
What are the pro and cons of paying an executive search firm, such as Stewart, Cooper & Coon, to assist in a job search? If you have had experiences with such a firm were they good or bad?
 
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Replies
Peter Mundy
Member: 2002
Posts: 1

Subject: Re:Paying an Executive Search Firm

Submitted on 09-18-12 1:07 pm.
Message:
I too have been approached by Stewart, Cooper & Coons as well as SET Personal Marketing. At $6,500 for 3 months, these fees seem high with no guaranty. I would also like to hear others experience.
 
John Beckvold
Member: 2001
Posts: 2

Subject: Re:Paying an Executive Search Firm

Submitted on 09-18-12 1:59 pm.
Message:
All my experience is horrible. Scam artists who provide very little other than promises
 
Phil Doyle
Member: 2002
Posts: 3

Subject: Re:Paying an Executive Search Firm

Submitted on 09-18-12 5:46 pm.
Message:
I agree. I have never met anyone that said they had a great, good or even fair experience.

In talking with several FENG members, they all agree it would not be money well spent. After giving over the money, the level of service declines rapidly from people they knew.

Post a message on the nightly newsletter.

Best Regards,

Phil
 
Gerry Mecca
Member: 2005
Posts: 1

Subject: Re:Paying an Executive Search Firm

Submitted on 09-19-12 10:45 am.
Message:
I have had some experience with a career coach which can be part of the matter surrounding executive search. It can help in formulating a resume and search strategy. Overall, much of the executive search industry does not improve the client's outcomes.
 
Dave Goldin
Member: 2003
Posts: 23

Subject: Re:Paying an Executive Search Firm

Submitted on 09-19-12 12:34 pm.
Message:
Rather than pay them, I wonder what information they can add to a search that you could not get from the FENG nightly newsletter and/or fellow members. Are they holding some secrets?
 
Jonathan Turkel
Member: 2012
Posts: 12

Subject: Re:Paying an Executive Search Firm

Submitted on 09-20-12 2:34 pm.
Message:
I concur with the other responders that paying an executive search firm is a waste of money and likely a scam.
 
Michael Miller
Member: 2003
Posts: 2

Subject: Re:Paying an Executive Search Firm

Submitted on 09-23-12 10:56 am.
Message:
Never pay anyone to help you find a job. A career coach is one thing, a search firm is something else.
 
Nick Pribus
Member: 2008
Posts: 5

Subject: Re:Paying an Executive Search Firm

Submitted on 09-23-12 9:01 pm.
Message:
I owe a reply to Stewart Cooper Coon this week after our second hour long call and their final sales pitch. Four options from $6,000- $10,000. The consulatant assures me they had a 97% success rate last year and the average executive they placed had a 20% comp boost.

Well I wasn't born yesterday and expect that it would not be money well spent. I listened and talked at length trying to learn as much as I could, and their website does have some good resume/profile/search information and examples.

But with a 97% success rate, I will offer them $15,000 on a success fee basis, will pay when position is secure and contract is signed. Which ain't happening.

So keep on networking.
 
Tom Carlson
Member: 2010
Posts: 4

Subject: Re:Paying an Executive Search Firm

Submitted on 09-24-12 3:09 pm.
Message:
I was tracked down by a firm for $8K. I asked where they found me, they wouldn't say, and it turned out it was through Careerbuilder or Monster. I pushed back and the number lowered and eventually they proposed an upfront payment and the remainder due once I took a position. Sounded like a fair shot but thankfully I didn't give in. They pushed very hard and when I finally said I don't think so I never heard from them again. I thought I was going to end up with a condo in Gainesville. They only work on the candidate not the industry or market. One item they offered was to video tape a mock interview. You can do that yourself and I suggest you try it.
 
Rob Forsythe
Member: 2011
Posts: 7

Subject: Re:Paying an Executive Search Firm

Submitted on 09-25-12 9:40 am.
Message:
Made a big mistake years ago and paid one of these scam artist companies (company name is Harvard Professional Group aka Harvard Pro). Do not pay these types of companies. I believe this one is non-existent now. Promised a very high success rate in placing candidates in challenging higher level positions with increased compensation. They claimed to have solid connections to the senior vps and CFOs that were making the hiring decisions. Worked with them for about a year and then I landed something on my own online. I ended up suing the company...got about half my money back. Beware of these companies. Some sell themsleves as marketing companies. YOu are so much better off by networking and searching monster, indeed, ladders etc...
 
Ronnie Stewart
Member: 2012
Posts: 1

Subject: Re:Paying an Executive Search Firm

Submitted on 10-05-12 10:52 pm.
Message:
One local (Chicago suburbs) company was recently the focus of an investigation by a network news team. Total scam! I've been approached by three or four of these companies over the last few years. Coincidently, I hear from them every time I have put my resume out on Monster.com. One (sorry can't remember the name) told me they actually already had the jobs and could guarantee me placement, if I paid them $6,500 of course. The lady caller got very irate when I questioned her and asked for 24 hours to do some research, " why would I need to do that?" she asked before getting extremely rude and obnoxious. This behavior convinced me that this was not the kind of person I would want to do business with anyway, let alone hand over $6,500.
 
Cindy Kraft
Member: 2007
Posts: 3

Subject: Re:Paying an Executive Search Firm

Submitted on 10-11-12 8:47 am.
Message:
I agree, Michael.

Years and years and years ago, I was referred a high-level international CEO. Right after we spoke, he was called home (overseas) because his father died. A couple months later I followed up with him and he said he decided to go with McKenzie Scott because they were a "big" company with an international "presence." I talked with the person who referred him to me, telling him I was concerned.

My source said I was dead on. This CEO had flown - at his own expense - from the east coast to the west coast to hand MS a check for $15,000 ... and the CEO was now sitting in front of a computer going through the MS database and firing off his resume.

Moral of the story: Anyone who tells you that for the right amount of money they can find you a job, probably has a bridge in Arizona they would like to sell you as well.

Understanding how to conduct an effective job search is a good career management strategy ... because you probably will be in another one in 3-5 years. Give a man a fish and he eats for a day. Teach a man to fish and he can eat for a lifetime.
 
Dave Quinlan
Member: 2002
Posts: 8

Subject: Re:Paying an Executive Search Firm

Submitted on 10-11-12 9:30 am.
Message:
If you are comfortable with networking, your resume is in good shape, you are knowledgeable about using the Internet, then I would say it is not worth it. I used a firm earlier in my career and I learned a lot about networking but I would never have a need to use a firm like that again. It might be better to by a book. I don't recommend it unless you feel you need a lot of coaching. I don't think it is worth the price at all.

I think a book that may be on the FENG reading list (or not) is "Rites of Passage at $100,000 to $1 Million+: Your Insider's Lifetime Guide to Executive Job-Changing and Faster Career Progress in the 21st Century". I read this book and recommend it to people.

I did use a professional resume writer and thought that was well worth it. That was well worth the money and I've benefited for years.

Hope this helps,
David Quinlan
 
Neil Livingston
Member: 2000
Posts: 2

Subject: Re:Paying an Executive Search Firm

Submitted on 10-11-12 9:40 am.
Message:
In the past, I have managed to get six months of outplacement paid for by the employer with Drake, Beam & Morin. Their services included all of the same services that these marketing companies agree to provide. What Drake, Beam & Morin did provide was structure to my career search. While they did the cover letters and polished my resume, in the end, it was I who made contact with a business associate and landed a job. The position lasted a few years. The company was sold and I was back in transition again. This time I started a consulting firm and haven't looked back.
 
Kevin Kelly
Member: 2012
Posts: 3

Subject: Re:Paying an Executive Search Firm

Submitted on 10-18-12 2:39 pm.
Message:
I have been approached by 2 firms as well, who claim they saw my resume on an internet job board. They were Next-Opp and Execu-Search. The guy who runs Next-Opp used to work at Execu-Search and went out on his own. Both guys seems nice enough and what they tell you seems to good to be true. Expected landing time of 11 weeks, and can expect approx a 20% increase. Next-Opp rates were more reasonable ($6200) compared to Execu-Search who wanted more than that up front, plus another payment once you were placed. Neither of these places actually have jobs, you have to find the jobs and then let them know and they will check their network to see if they have someone at that company they can talk to on your behalf. I did some due diligence, and Next-Opp had 4 BBB complaints in the first 5 months of this year alone. Execu-Jobs had 2. Execu-jobs routinely posts job listings on Monster, Career Builder etc, with the title of CFO - Director of Finance, the link takes you to their site and tells you about their outplacement service. There is not specific job attached to that ad.

Subsequently, via another FENG member, I was put in touch with a career coach, Rod Colon. Rod's whole deal is helping you manage yourself as a business, and coaching you along the way, and you get access to his extensive network. He makes no claims about having jobs or making any guarantees, but he is always available to take your calls, emails, etc. He charges a flat $1,000 and is with you until you land at your new spot, no matter how long.

 
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