Determining a Sourcer’s Worth
I am worth $1.83 million.
No, seriously, I am — at least, that’s what http://www.humanforsale.com told me. I took their survey and the resulting value on my person was nearly $2 million. Of course, I’d like to think that I am priceless. (Waiting while you all vomit…) Try it for yourself and see what you’d go for on eBay…
But getting serious (and because that site doesn’t take into account the fact that I’m a sourcer) — let’s talk about what sourcing is worth. What are you, as a professional people-hunter/sourcer/search ninja actually worth?
If we knew the answer to this question, we wouldn’t be asking you, our readers. It’s a question that comes up often and almost never receives the same answer. Some people think that sourcing is only worth about $6/hr. Others command a hefty $100+/hr billing rate for sourcing projects. Regardless of how you approach this question, the answer will almost never be accurate and I believe that is because there is no cookie-cutter framework in which “sourcing” fits. For instance:
- Some sourcers do lead generation
- Some sourcers do lead generation + initial outreach
- Some sourcers do lead generation + initial outreach + pre-screening
- Some sourcers do all of the above as well as strategic initiatives, including pipeline development and employment branding projects
…yet they are all “sourcers.” To say that each of these types of individuals should be paid the same since they are all classified as “sourcer” would be as incorrect as saying a person working in sales at a retail storefront should be making the same as a person working in sales at a multi-national ERP software manufacturer, because they both carry the same title.
In my personal opinion, sourcers’ compensation should be determined based on two main items and one sub-item:
- Level of expertise (usually determined by years of experience, but not always)
- Scope of function
If you want experience, you must pay for it. If you want more work to be done, you have to pay for that, too. And if you are not willing to pay for either (translated — you are looking for a “top-notch sourcer” at at $13/hr) then you will engage in a never-ending search — either because you’ll never find a sourcer willing to take your job, or you’ll end up hiring all the wrong ones.
Geography also plays a role in determining a sourcer’s compensation. Where you are in the world makes a big difference — for example, sourcers in the United States and Australia typically get paid more than sourcers in Asia. Cost of living in a given location makes a big difference in what a sourcer could/should earn.
With this in mind, I invite all of you who are sourcers to participate in our Salary Survey so we can get a snapshot of what the actual compensation of sourcers is today. Please follow this link and take a few moments to anonymously fill out the survey. Once we get a good sampling we will share this information on SourceCon.com to give everyone a better idea of how sourcing is compensated.