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is there a standard fee agreement how do I negotiate the agreements with clients check out this video find out [Music] hey welcome to the millionaire recruiter I'm Brianna Rooney you're a millionaire recruiter and if you haven't yet seen this channel before it is all about making you the next millionaire recruiter this is exciting stuff and first of all thank you guys so much for watching subscribing and liking and most of all for really like giving me some motivation and inspiring me on on what's one of these videos it's been super fun so a lot of people if you haven't yet start your own recruiting business or if you have yet ventured into recruiting there's a lot of people that want to and how do you get paid you can't paid by your clients and therefore you have to learn how to negotiate a fee agreement and there is absolutely a science to that and I think it's really important that as a recruiting community we need to really hold strong on what our fee agreements say and the reason being is because what we do is in such demand is so needed and what you really have to understand is we are actually not expensive we saved the company hundreds of thousands of dollars if not millions depending on how much you are placing people with a company and how quickly you're actually doing it and how well those people are actually working out for them so get it in your head it's a recruiting is not expensive you are not sending an expensive bill you are sending a business expense that is a necessity isn't super important so as far as the tech world is concerned and recruiting it's pretty standard that it's 25 percent of the first year salary now I have heard all sorts of things in all different industries lawyers health restaurant hospitality some are a little more than others and some are a little less than others so if you can just look at it as perhaps not intact but perhaps 15% to 30% is pretty standard for a contingency outside recruiter fee so what's also really clear I need you understand is this fee it does not come out of the person salary your Canon salary is not at all affected by the speak companies have separate budgets for us that not everybody knows so it's not affecting them we're doing the best job possible for them and we're also negotiating the candidates salary with what the client can actually do and we find like that happy medium so it's really it's a win-win for both sides okay so let's just say 25% very very very standard for you right now when do we get paid well that's very exciting your person has to start and then you either get paid within 10 days of them starting or 30 days probably the norms depending on the size of the company is more 30 day pay and so I don't I don't really because I don't really care too much about it's 10 or 30 days because tense is pretty quick because it's a pretty fast turnaround for any kind of like account management department so it all depends now I have had a couple 45 and maybe 160 days but that's in the course of like 12 years so I would really not want to get paid long rather than that I do have a couple high profile like public companies are just monsters and they do have a pretty standard 60-day pay so it's a case-by-case but I would just say it's very simple goals 30-day pay you need to get paid right you got bills all right and then guarantee this is a biggie what is a guarantee I feel like it could be a whole new video but essentially a guarantee is how long do you guarantee your candidate will stay with your client no here's the funny thing right technically or a finder's fee by the way not technically we are we're finders see okay we found this amazing person your company I'm sorry your client I should say put them through the ringer they interview them up to their standards right they decided to make that decision too hire them it should not be on you to make sure that they're happy with your at your clients place meaning you are not on site with your client you are not there on the day-to-day with the person or your candidate I got hired okay you are not making sure that their culture is strong that the manager is up to standard with the candidate yeah in a perfect world we figured all of that out and hopefully the clients you work for are amazing people to work for but that doesn't always happen and a lot of that stuff is out of our control now I could definitely assure that a candidate I guess is gonna be really happy because I can control that environment I cannot control my clients environment again do your homework on your client visit your client get a feel for it because if you're a good human being you're gonna want your cannon to go somewhere they're absolutely going to enjoy and love okay so do your homework but again it's not not up to you right so very standard 30-day guarantee now you can wiggle all the way up to a 90 day guarantee I would never ever ever ever ever go farther than that that's not what we get paid for done period the client wants longer than that obviously it's up to you but I'm just telling you right now right here would never do it that's not what we're paid for plus they wanna up your fee to 35% perhaps but even then you know it and at that point too it's like what went wrong past 90 days and you couldn't have already figured out it is a long time to work for a company and again that's not your that's not your thing so let's recap really quick 25 percent is pretty standard but I've seen 15 to 30 percent so just within that realm you really don't want to negotiate anything look I mean I wouldn't do anything lower than that and the way that you negotiate is you start at the tip top and then let them say something you know you give them your gold standard fee agreement which is the 25% the ten-day pay and the 30-day guarantee there you go when I negotiate the fee agreement I definitely save that for the end so I build my value and that phone call and the meeting whatever you decide to do is so like hey this is where you're talking to me this is what I can do for you and this is how I can make you know your interview process seamless and while also sending you pretty amazing candidates and saving you time and money in the long run again the value you have to build then you just say your fee agreement as a very matter-of-fact sometimes I don't even say it over the phone I just say hey I'll go ahead and shoot you over our standard fee agreement just sign and send back when you're done or when you're ready okay if they ask I'll tell them absolutely and some companies will say oh that's above any other recruiters we work with pretty easy responses so if you work with other recruiters that are doing a great job for you why are we talking mm oh that's probably because they're not doing a good job for you and what's the giant saying yeah you get what you pay for and that is always true okay except the target I'll target all right but seriously you get what you pay for and you know what sometimes you've already kind of like the romance and fell in love with this client you have like a really good vibe yeah if you want to negotiate a little bit fine let's say you do 25% and you say 25% and they go all my other recruits are 20 and say you know what we can do 22 how's that oh I'm so sorry we do 20% yeah I don't know if we can how many positions do you have and then you start to really like dig into it like okay because guess what if you have a really good working relationship they have a lot of good positions it's a solid client good pitch right then oh and good people that are like involved in the company then yeah maybe it is a really great client for you and for your future again being in the recruiting industry remember you're not always relying on right now you're relying on what's going to be most beneficial down the line in the future because referrals are gold okay don't forget that you know don't you know say no because they didn't do the two percent higher three percent higher yeah they can understand that you work on contingency and sometimes you just have to really focus on the clients that are going to pay you the most but also really realize that you want to work with the clients that you're gonna have the best working relationship with because you could have a really high figure my client was a pain yes and you replace anyone or even once in a blue moon and you could have this really amazing client they have this great relationship you've had so many referrals from that you placed tons of people at so who you're gonna go with okay case-by-case situation I just want to throw out there really just what's the norm and how to negotiate and go back and forth and you never start at you know your lowest because everybody negotiates alright so good luck and have fun you know with the clients as well remember it's not always about the fee agreement it's about the relationship I get a good fee agreement and one thing I always always always always always do is I don't I don't pay back anymore it's a pro-rated refund pro-rated refund on the guarantee for example if this person I hate talking about this but if this person falls out doesn't make it through the whole guarantee let's say it's a 60-day guarantee and they make it to day 50 the company has to pay your fee of 50 days worth of your fee you can give them the ten days back on what that rate is per day but you definitely are not you know giving the full there's no full refund that's crazy and I don't even like to replace anymore because I just don't think that that's a a win-win for either party I think it's really fair so just to prorate it and actually a lot of companies prefer it as well so enjoy fun negotiating and if you are already a recruiter love to hear your negotiating tips and then you know an upcoming recruiter this really isn't so scary I know a lot of times people don't want to negotiate and have fear of going back and forth especially like if you feel like really green and this company is just you know intimidates you that can totally happen that happened to me when I first started just know at the end of the day this is very normal and it's something you have to do in order to be really good at your job and I know you want to be really good at your job because I know you want to be the next millionaire recruiter all right cool so have fun make sure you like and subscribe and check out that next video every Thursday at noon and don't forget that money is just a vessel that gets you to do all the amazing awesome things you love to do so go get it see you next week [Music]