Let’s start with the hard facts. At Barrington James, we work off a ‘high-commission, low-basic’ business model.
What does this mean? Your earning potential has no limit. The opportunities for you to earn are only restricted by your productivity and desire to earn.
In most positions, you get paid a consistent salary – let’s say, £25k per annum. This doesn’t change unless you receive a bonus or are granted a pay-rise, at which, your pay increases once then stays the same… Great for people who don’t want to be able to pay for a week in the Bahamas in one month’s pay.
Commission-based business models give the power to the consultant. You’re motivated by the fact that you know closing a deal could make you £5000 commission. You know that the work you’re putting in will be financially remunerated in a BIG way.
If you’re stuck in a position where the work you put in has no impact on your earnings, it’s easy to slip into a place of complacency – “why should I bother making extra calls/staying late/sending messages on LI when I’m still going to get paid the same if I don’t?”. We look for people who say to themselves “If I make an extra 200 calls to candidates this week, I’m raising my chances of earning an extra £10k if I speak to THE candidate to fill this vacancy.”
Straight away, your motivation and success WILL increase. Even if you don’t find that candidate, you’ve added another 200 potentials to your future pipeline, built new relationships, and created new networks.
62.5% of the earning potential we project for consultants in their first year comes from commission, which comes from making deals (so basically – doing your job). Our top billers are so successful that 90% of their annual earnings is made up of commission, with only 10% of their earnings being accounted for by their basic salary.
We understand that taking the leap into working in a ‘high-comms, low-base’ business model is a risk. We appreciate financial commitments that need to be met – and we will always take these things into consideration.
But, when it comes down to the types of people that are typically successful in recruitment long-term, they are concerned with attributing their financial success to their strong work-ethic, a desire to be in control of their earnings, and yes, there’s always an element of competition amongst your colleagues about who earns/bills the most, and pride in knowing the money you earned, you are totally accountable for.
Working off a commission-based structure means you’re willing to take a risk – a personal attribute DEFINITELY required to be successful in recruitment. Taking risks gets you noticed if you ask the difficult questions, call the troublesome clients, persevere to find the ‘unicorn candidates’ needed for a tricky vacancy.
“Great things never come from comfort zones”.