How does headhunting work?
I’m new to WSO and just approaching the field of finance. Was wondering how headhunting firms work. Can undergrads use them to get internships in IB in London?
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Headhunter firms typically get paid a commission based on the salary of the new recruit. They vary significantly in their focus areas (e.g. some will focus on junior bankers but have more of a high volume / lower quality approach, and some will only focus on very senior bankers and will have very tailored and selective processes). Headhunters work for banks, not bankers - always remember that.
Banks have HR graduate recruitment teams who manage internship applications - since there are so many thousands of applicants, use of external recruitment agencies isn't needed.
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