Headhunters: Frequently Asked Questions
What is a Bounty?
A bounty is the fee that an employer will pay, as percent of base salary or a fixed fee, when a headhunter places a candidate. Additional compensations like stock, bonus and options are not included in the calculation.
How much does it cost to use BountyJobs?
There are no start-up costs or monthly fees for qualified headhunters to use BountyJobs.
How does BountyJobs make money?
BountyJobs makes money when headhunters make placements. In the marketplace, we keep 25% of the award and deliver 75% to the successful headhunter. Headhunters who are referred by certain enterprise customers may be eligible for different terms.
How large are the placement fees on BountyJobs?
Bounties vary depending on employer needs and budgets. Fees vary from 10% to 35% of base salary, with an average fee across the marketplace of 20%. The highest bounty awarded to date is $50,000.
Why should I give up 25% of my fee?
Headhunters find that they make more money using BountyJobs because they can spend their time searching for candidates and making more placements instead of cold calling, negotiating contracts, getting on vendor lists, and collecting fees.
When do I get paid for successful placements?
BountyJobs deposits headhunters' awards in online accounts as pending funds on the candidate's start date and after 60 days, the funds are available for withdrawal. If a candidate doesn't work out for an employer after withdrawal but before the guarantee expires, the headhunter must refund the fee to BountyJobs. This situation occurs in less than 1% of transactions.
Value to Join
I already have all the business I can handle; why should I join BountyJobs?
BountyJobs has two types of users: headhunters who work exclusively in the marketplace and headhunters who use BountyJobs to supplement their offline business. With easy access to thousands of open requisitions, headhunters can place all their quality candidates and generate substantial incremental revenue. Many "retained only" search firms have joined BountyJobs to offer contingency services. With no start-up or memberships costs, qualified headhunters have nothing to lose, and many placements to gain.
I have a very specific specialty, how is BountyJobs going to help me?
The BountyJobs marketplace offers opportunities in a wide range of industries and positions throughout the country. Most specialized headhunters find interesting opportunities on BountyJobs.
Does BountyJobs work for search firms with multiple users?
BountyJobs Enterprise allows organizations to add as many users to the system as needed at no cost. The administrator accounts can monitor all recruiting work and manage all user and financial activity.
What companies use BountyJobs?
Employers from a wide range of industries use BountyJobs, including over a third of the Fortune 500.
What is the process to join BountyJobs?
The marketplace is not open to everybody. After registering, headhunters must attend a live demonstration and satisfactorily complete a screening interview with a BountyJobs representative.
Are employers on BountyJobs responsive?
Just like in the offline world, some employers are very responsive and others are not. To address this important issue, BountyJobs has developed several key indicators to help headhunters gauge employer responsiveness. Using these indicators, experienced users find the best employers with ease.
Who can see my candidates when I upload them to BountyJobs?
How can I develop relationships with employers if I can’t talk to them first?
The BountyJobs marketplace facilitates communication between headhunters and employers. By breaking down so many barriers to conducting business, headhunters can develop employer relationships in weeks that formerly took years.
Can I post my own jobs?
No. BountyJobs is not a split network. Only direct employers may post jobs on the marketplace.
Does BountyJobs help me find candidates?
No. BountyJobs provides access to tens of millions of dollars in bounties for jobs. It is the headhunter's task to find the best candidates to fill the jobs and win the bounties.
Will I be required to include a candidate’s contact information in a submission?
No. Headhunters can choose to remove reference to a candidate's personal information on a resume prior to submission.
How does the employment guarantee work?
For bounties that are 20% of the starting salary or greater, BountyJobs provides a 90-day full money back guarantee. For bounties that are 19% of the starting salary or less, BountyJobs provides a 60-day full money back guarantee. If a candidate does not work out during this period, BountyJobs will refund the money to the employer.
Can I offer a replacement guarantee instead of the money back guarantee?
No. One central contract, which provides for a money back guarantee, governs the relationship between all parties. The main contract was developed with the input and cooperation of a large number of search firms and the Fortune 500.
Can I see the names and phone numbers of the employers?
Once an employer grants a headhunter permission to submit candidates for a job, the employer's full contact information is disclosed to that headhunter.
What happens if the employer doesn’t pay?
BountyJobs cannot convert pending funds to available funds in a headhunter's account until both the 60 day period has elapsed and the employer has made payment. BountyJobs will make every effort to collect from delinquent employers. With the quality of employers that BountyJobs has attracted, this has not been an issue.
How do you resolve disputes?
Who owns the submitted candidates?
Headhunters own the candidates they submit for a period of six months from the date of submission.
What if I already have a relationship with an employer that is on your site?
What if another headhunter submits my candidate for the same bounty?
BountyJobs' system blocks duplicate submissions. In the unlikely event that the system fails to block a duplicate submission, the winner of the bounty will be the headhunter who first submitted the candidate, as determined by the time and date stamp on the submissions.
What if the employer already has a candidate that I submit?
Candidates who applied to an employer outside of the marketplace in the preceding six months belong to the employer, and not to the submitting headhunter. If the employer hires the candidate, the employer will not owe a fee.
If you still have questions, please refer to Pricing and Policies or contact a BountyJobs representative at (212) 660-3960.