Finder's/Referral Fee: SUMMARY

Subject: Finder's/Referral Fee: SUMMARY
From: Joanne Meehl <Jmeehl -at- datum -dot- com>
To: TECHWR-L <techwr-l -at- lists -dot- raycomm -dot- com>
Date: Thu, 8 Jun 2000 12:53:31 -0400

Thanks to the 25 generous people who responded to my question (see below).

Here's a summary (dollar figures are US):
Range of referral fee - $300-$5,000
Mean - $1,675
Most frequently cited amount - $1,500. Next: $1,000
Paid when: Usually paid once new employee is with the company 90 days. Two
of you said their referral $ was paid immediately, two said it was paid over
6 months.
One person reported that their company not only pays a referral fee, but on
the new hire's first anniversary, they give the new hire a $500 bonus and
the employee who referred them $500 more.
One person says their company not only pays the fee, they pay you, the
referring employee, a certain amount at each stage of the prospective
employee's interviewing process--$X after the first interview, $Y after the
second interview, and so on. Even if they're not hired, you get these
payments. Verrrrry interesting.

Thank you one and all!

-----Original Message-----
From: Joanne Meehl [SMTP:Jmeehl -at- datum -dot- com]
Sent: Wednesday, June 07, 2000 1:03 PM
Subject: Finder's fee

Hi all,
A common practice in high tech is to pay employees a "finder's fee"
or bonus
for bringing in an engineer, for example, because it saves the
recruiting costs, among other reasons.

I'm curious: Is such a thing commonplace when recruiting technical
And if so, how much was the "fee", and was it paid to you once the
employee was there a certain amount of time?

As a newbie, I was just wondering if this is done.


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