What is a Bounty?
A bounty is the fee that an employer will pay, as percent of base salary, when a headhunter places a candidate. Additional compensations like equity, commission, and bonus are not included in the calculation.
How much does it cost to use BountyJobs?
Currently, there are no costs or fees for employers to use BountyJobs. Employers pay bounties only when their jobs get filled, and they determine the bounty size based on their own hiring needs and budgets.
How does BountyJobs make money?
BountyJobs makes money when employers fill jobs. 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.
Why would headhunters give up 25% of their fee?
Headhunters find that using BountyJobs makes them more money. BountyJobs allows them to spend their time searching for candidates and making more placements instead of cold calling, negotiating contracts, getting on vendor lists, and collecting fees.
How large are the placement fees on BountyJobs?
Bounties vary depending on factors like the industry, the job level, and the placement difficulty, with an average fee across the marketplace of 22% of base salary. Jobs with higher bounties tend to attract more action from headhunters.
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.
With so many headhunters, will I be bombarded with resumes?
In short, no. Employers have the power to control the flow of resumes for their bounties and with the click of a button can disengage any headhunter with whom they are dissatisfied. Also, employers’ ability to view headhunters’ marketplace statistics discourages headhunters from sending out resumes indiscriminately.
Will any headhunter be able to access my contact information and call me?
No, BountyJobs hides employers’ contact information from the marketplace. Only after an employer expressly chooses to engage a headhunter is contact information made available.
How does BountyJobs screen for qualified headhunters?
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.
How do you resolve disputes?
Disputes are rare on BountyJobs, but when they happen, we act as a neutral mediator to understand the situation and to work out a settlement between parties. We deal with each situation on a case by case basis. If mediation is unsuccessful, either party can enforce the Terms of Use to the fullest extent permitted by law.
My jobs are in a unique specialty and I have a hard time finding appropriate headhunters. Will BountyJobs work for me?
The BountyJobs marketplace is made up of thousands of headhunters throughout the country who place candidates in a wide range of industries and positions. You will be pleased with the high level of specialization that BountyJobs delivers.
How long will it take to see results?
Some employers have seen results in hours, and some not for weeks. It depends on a number of factors affecting the attractiveness of the job, such as the bounty amount, the job position level, the location, and the difficulty of placement. Although it is impossible to make promises about any particular job, employers using BountyJobs report that when they post well-priced bounties, they see results faster than with any other means available.
Does BountyJobs work for employers with multiple users?
BountyJobs Enterprise allows organizations to add as many users to the system as needed at no cost. The administrator accounts can generate reports and view and manage all organizational activity.
We like our headhunters and are happy with our current arrangements. Why should we join BountyJobs?
In today’s competitive job market, new channels of talent acquisition are absolutely essential. BountyJobs will add immediate quality candidate flow for any large or small organization and streamline vendor relationships and procurement processes dramatically.
I get enough calls from headhunters. Why should I join BountyJobs?
If you’re asking this question, you will definitely like using BountyJobs. With BountyJobs as the single vendor, employers can access candidates from any headhunters with no hassle.
What companies use BountyJobs?
Employers from a wide range of industries use BountyJobs, including over 100 of the Fortune 1000.
Who owns the submitted candidates?
Headhunters own the candidates they submit for a period of six months from the date of submission. The employer owes a bounty if, during this period, they hire one of those candidates for any job.
What if I already have a candidate that a headhunter submits to me?
Candidates who applied to an employer outside of the marketplace in the preceding six months belong to that employer, and not to the submitting headhunter. If the employer hires the candidate, the employer will not owe a fee.
What happens if two headhunters submit the same candidate?
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. Employers will never be required to pay two bounties for the same candidate placement.
Can I work offline with headhunters I meet through BountyJobs?
No. The Terms of Use prohibit bringing new business developed through BountyJobs offline and anyone attempting to violate this policy will be immediately removed from the marketplace.
Do employers have to use the BountyJobs contract?
Yes, one central contract governs the relationship between all parties. The main contract was developed with the input and cooperation of a large number of Fortune 1000 employers and search firms.
If you still have questions, please refer to Pricing and Policies or contact a BountyJobs representative at (212) 660-3960.
