Reply to: Agency 'Cut'

[Scrag Meister]

Banks and PSL Agencies

Quite often with financial services the agencies are on a fixed %age of your rate with the client.

My current contract has the agency adding 9% on top of my rate.

I generally check with the agency, that they are on the clients PSL and they take a fixed %age of my rate, so I know there is no major motivation for the agent to lower my rate.

My rate goes down so does theirs.

[Stan.goodvibes]

I think we always look at agents of all sorts as unnecessary, estate agents, recruitment agents, football agents etc etc but if they were truly not required then they wouldnt exist.

Kinda like your appendix then

[beaker141]

I'm going to do a rare thing and stand up for the agents, Particularly "The Agents View" who talks a lot of sense and the "DodgyAgent".

I am in Finance, the recruiters in there may be slightly better than pure IT ones, and generally lots of biger companies such as Page, RObert Walters, Badenoch and Clark etc.

I have dealt with them from both sides of the fence, bringing people in to work for me, and working with them to get access to roles.

In using them to bring people in, their brief is to give me their best 3-5 candidates, pre screened - if any muppets were put through that would jeopardise their business with me - one agent bombed me with 12 cvs, with no synopsis of each person - I didnt use them again. The agency that stood out, send me 3 attached cvs - with a 3 line synopsis of their skills etc (not just bullet points either) and their salary expectations. I took one to interview, then second with my boss and recruited them.

We once tried recruiting direct from a University jobs board - it was painful, resource intensive and didnt give good candidates - I wont be trying that again in a hurry.

In looking for a job recently, I am in touch with about 8 agencies, happy to chat to them for 5-10 minutes about what I am up to, what I am looking for, whats the market like etc Most are generally good people, a bit of waffle, but they are generally sales background. If any bulls*it me then I would say so and remove them from my list of people to deal with.

I am now in a temp role, coming up to 3 month renewal point, and chatted with my agent today, had a bit of banter, primed her up to see if she could get me any more because the client rate me highly, then joked if she could it would save me coming knocking on her door squeezing their margin - she was fine with that and said she is happy to give and take a bit. Its in their interest to keep me as long as possible on this contract, so after 3 months of creaming it at whatever %age, should be happy to start easing this slightly over time to preserve long term profit rather than pee me off and get no profit. Fairs fair I say.

I think we always look at agents of all sorts as unnecessary, estate agents, recruitment agents, football agents etc etc but if they were truly not required then they wouldnt exist.

I end up feeling guilty that out of 8 agents, only 1 will get any money from placing me, when they have all given useful advice and put me forward for jobs over the past year !!

[cojak]

I'm glad SOMEONE read the post.

I handed my notice in because I would not, and will not be part of an industry which is corrupt. This may be my downfall one day - it might be that this is such common practice, that you have to do it, but I will stand by my morals of winning business off of the back of being the best at what I do - not the size of the envelope I give to my client.

At the point I handed in my notice, I had nothing to go to, no savings, and no expectation of being paid my notice - Then I fell into recruitment. My plan being to be the best at what I do, and change the way individuals feel about recruitment companies - These days I work for a massive recruitment company - part of the reason I am here, is to help to transform their reputation, from CV sausage factory, to quality supplier who adds benefit, but can undercut the more boutique style businesses (for whom I used to work).

And I hope you succeed. It's a shame you're not helping your big company on the IT side of things, most of them need it...

[The Agents View]

Did you read the post properly?


Also do you know what happens to whistle blowers? If they are lucky they get told to shut up and ignored, if they are unlucky their lives are made hell.


Read the post again. The brown envelope episode wasn't when the poster was working as a pimp.

I'm glad SOMEONE read the post.

I handed my notice in because I would not, and will not be part of an industry which is corrupt. This may be my downfall one day - it might be that this is such common practice, that you have to do it, but I will stand by my morals of winning business off of the back of being the best at what I do - not the size of the envelope I give to my client.

At the point I handed in my notice, I had nothing to go to, no savings, and no expectation of being paid my notice - Then I fell into recruitment. My plan being to be the best at what I do, and change the way individuals feel about recruitment companies - These days I work for a massive recruitment company - part of the reason I am here, is to help to transform their reputation, from CV sausage factory, to quality supplier who adds benefit, but can undercut the more boutique style businesses (for whom I used to work).

[Stan.goodvibes]

Are you working at the moment Stan?

Had a contract lined up here in Sydney to start 4 weeks ago, handed in my (weeks) notice at previous contract in NZ, booked flights, packed up, had leaving party...

... got a txt from agent on the Friday night before I was flying out to say client bailed on contract. Apparently due to budget getting stalled.

Currently doing some menial work my sister got me at the Public Service Association in town (listening to this DodgyAgent?) while I chase another contract.

Ironically canned contract was at Westpac (bank), and I have just had another interview for another role at Westpac, and another agent ring about another role at Westpac.

But I'm hanging for an interview this week with JP Morgan. Need the IB experience so I can get back in the City later this year/2011.

[Stan.goodvibes]

You are still a wealthy priviliged individual

I wish!

You are incorrectly assuming I am making a class distinction here. Fortunately out here in the Antipodes we don't have that class attitude that still persists in the UK, where you are categorized a soon as you open your mouth.

I'm making a work distinction. IMHO I work hard for the money I earn, a lot harder than the man (or woman) in the middle taking a cut for mostly little effort. Thats just how I see it after 15+ years doing this.

[jaydean]

agency cut

On my £22 per hour contract, they took away £10. This somewhat in the 30% rate


After 6 months I got a rise to £26 per hour, the agency were making £8 an hour.

PS MY contract went on for 19 months.

How much is normal for an agency to take a cut??

!0%, 15%, 25%... etc???

Cheers

[DodgyAgent]

Wow, brilliant generalisation. FYI I grew up in small town NZ to lower-middle class public servant parents and put myself through Uni by working evenings doing computer operating, moved to Auckland to get some experience and then moved to the UK and through my own efforts managed to get myself contracting in the City. No handouts from parents, no privileged background.

And yes I have the gall to pass judgement on people in your industry who are ill-equipped or just too damn lazy to be good at their job.

If you have a bit of a chip on your shoulder about the social demographic of your particular upbringing (I'm guessing Essex perhaps) then you should just deal with it.

You are still a wealthy priviliged individual who is as likely to get the best possible deal on a contract as any agent is likely to. Or is it one law for you and another for everyone else?

[The Agents View]

Wow, brilliant generalisation. FYI I grew up in small town NZ to lower-middle class public servant parents and put myself through Uni by working evenings doing computer operating, moved to Auckland to get some experience and then moved to the UK and through my own efforts managed to get myself contracting in the City. No handouts from parents, no privileged background.

And yes I have the gall to pass judgement on people in your industry who are ill-equipped or just too damn lazy to be good at their job.

If you have a bit of a chip on your shoulder about the social demographic of your particular upbringing (I'm guessing Essex perhaps) then you should just deal with it.

Are you working at the moment Stan?

[Stan.goodvibes]

and what is the difference between you and the agent exactly? You are a wealthy privileged individual who doesnt have to do the hard yards of hustling for a living. you have been born bright , have been well educated and by sheer luck have fallen into a world of privilege, high pay and little responsibility. You work from one company to another never having to worry about the ethics of your paymasters (banks, retailers, insurance companies, manufacturers) yet you have the gall to pass judgement on others who are less priviliged than you.

You are an arrogant pompous little man.

Wow, brilliant generalisation. FYI I grew up in small town NZ to lower-middle class public servant parents and put myself through Uni by working evenings doing computer operating, moved to Auckland to get some experience and then moved to the UK and through my own efforts managed to get myself contracting in the City. No handouts from parents, no privileged background.

And yes I have the gall to pass judgement on people in your industry who are ill-equipped or just too damn lazy to be good at their job.

If you have a bit of a chip on your shoulder about the social demographic of your particular upbringing (I'm guessing Essex perhaps) then you should just deal with it.

[SueEllen]

And what did you say to your seniors about this little episode???

Did you read the post properly?

i'd be amazed if this wasnt against some code of conduct

Also do you know what happens to whistle blowers? If they are lucky they get told to shut up and ignored, if they are unlucky their lives are made hell.

Sure confirms a lot of thoughts of agencies us ltd companies hold

Read the post again. The brown envelope episode wasn't when the poster was working as a pimp.

[downsouth]

I did IT sales for 9 months - right up to the point that I saw a paper bag get slipped to a client, containing 10 grand. I handed my notice in the moment I got back to the office, and literally fell into this job.

TAV

And what did you say to your seniors about this little episode???

i'd be amazed if this wasnt against some code of conduct

Sure confirms a lot of thoughts of agencies us ltd companies hold

[The Agents View]

I thought she was a woman

Funny - I was reading it with a female voice in my head too

I do agree - those that give a to55 are generally few and far between.
I am skilled at what I do, however my qualifications are in human psychology, which I then apply to the sales industry.

In terms of my industry - I am niche, and non IT too, which has meant I have become a part of it. I'm a quick solution for busy senior individuals. I work by not only placing people, but managing the transfer of their skills, developing the team around them, whilst they deliver what the client needs.

Now I accept that I may be a rare entity on that side - but to be honest, some of the views on this site are astounding. Of course there are underhand tactics which go on - but to be honest, its far less dishonest than the general sales arena (specifically IT sales) - I did IT sales for 9 months - right up to the point that I saw a paper bag get slipped to a client, containing 10 grand. I handed my notice in the moment I got back to the office, and literally fell into this job.

I'm fortunate in that I love working with, and understanding people.....although I have to say, I hate having to try and get this across to the non believers in the industry!

TAV

[weemster]

and what is the difference between you and the agent exactly? You are a wealthy privileged individual who doesnt have to do the hard yards of hustling for a living. you have been born bright , have been well educated and by sheer luck have fallen into a world of privilege, high pay and little responsibility. You work from one company to another never having to worry about the ethics of your paymasters (banks, retailers, insurance companies, manufacturers) yet you have the gall to pass judgement on others who are less priviliged than you.

You are an arrogant pompous little man.

I thought she was a woman