iAMscientist gets you more qualified candidates cheaper
March 2, 2011 § Leave a comment
I had an interesting argument with a friend today discussing how much HR professionals are paying for qualified applicants from general job-boards like monster and dice. So how much is monster really charging you per qualified lead? For some reason, I couldn’t find an answer to this on google or anywhere else.
Monster charges around $1-$4 per pageview!
Well, lets do some simple math. Monster has 10M uniques per month and lets be generous and say that every unique visit yields 10 pageviews which suggests that Monster should have around 100M pageviews per month (verified by quantcast). By some estimations Monster has over a million job advertisements. That would suggest that (on average) you would get around 100-300 views per job ad per month. At $400/month/posting that’s $1-$4/pageview. WOW! that’s a lot of money to pay for a general job-board where anyone can join, post a CV and apply for your position.
You will get 20-50 applicant at $10-$20/resume
Lets assume that you get a 15% conversion rate which means that you get 15-30 resumes on average from monster. This means that you’re paying $10-$20 per each applicant. The real problem comes when you find out that 80% of those resumes are not from qualified candidates. Which means that if you’re lucky, you may get 4 real resumes out of your job search on Monster. This is probably an overestimate for niche jobs in the science, technology and medicine space.
You’re paying $50-200 per qualified candidate
We believe that recruiters have too many things to worry about as is, and shouldn’t be paying anything for people who are not qualified. iAMscientst connects recruiters and HR managers with the best talent who is interested in exactly the job opportunity that you’re posting. We can do that because we know exactly what people’s interests and expertise are. We can network with the right people and get you to the right candidate faster. That means more qualified candidates cheaper, and that’s what its all about!