Success Rates
Finding a job is a numbers game, no matter how you do it, and this page explains your odds:
- Direct mail has 85% odds of success in less than 90 days.
- Networking has 30% odds of success in 90 days.
- Networking also has 50% odds of success in 18 months
- Outplacement has 25% odds of success in 90 days.
- Recruiters have 1% odds in 90 days.
- Job boards have 1% odds in 90 days.
- Resume posting has 1% odds in 90 days.
JobBait is 6 times faster than all other strategies combined. And with JobBait you can increase your odds as much as you want by sending more letters. With all other strategies, you're limited by time.
Here's what it takes
In 2012, it will take about 4,000 letters per $100k in salary to achieve 85% odds of success in 90 days. In good times (the late 1990s) it took 2,000 and in tough times (2009) it took 5,000.
However, this number can go up or down depending on your situation.
- If your industry is growing, send less. If not, send more.
- If you're staying in your industry, send less. If you're switching, send more.
- If you're looking locally, send less. If you're relocating, send more.
- If your value proposition is compelling and in demand, send less. If not, send more.
- If unemployment in your area and industry is low, send less. If not, send more.
- If you're employed, send less. If you're unemployed, send more.
Our estimate of 4,000 letters per $100k in salary is a benchmark, not a rule and not a guarantee.
If you're hoping email will work just as well, it won't ... read this.
30-day
hiring
calculator
In the next 30 days, one business out of 32 will hire someone at a salary of $100k or more. However, that job may or may not be right for you - it could be in any department for a variety of titles. So, you'll need to reach a multiple of 32 businesses, as shown above (4,000 letters per $100k in salary).
- At $200k, one out of 170 businesses will make a hire
- At $300k, one out of 450 businesses will make a hire
- At $400k, one out of 850 businesses will make a hire
- At $500k, one out of 1,500 businesses will make a hire
Since most of these jobs will be hidden, you need to be in front of thousands of decision-makers at the same time for the few jobs that might be just right for you.
Classic direct mail
Classic direct mail is only polite and practical way to reach thousands of decision-makers at the same time. And, this is the only way you can increase the power of your job search as much as you want, whenever you want. It's a numbers game ... an "accident of timing" where you just happen to be in the right place at the right time.
Response rates
Job seekers want to know how many responses they should
expect from their mailing.
Generally speaking, the higher your salary, the lower the
response rate, which is why higher salaries require more
letters. The classically-understood direct mail industry average
of 1% to 3% is just that, an average. At lower salaries, the
response rate is higher, and at higher salaries, it’s lower. If
you make $1 million a year, it should not surprise you that
sending 100 letters will not result in 1 to 3 phone calls.
Having said that, results vary widely.
For example, one of our clients at $500k sent 32,000 letters, received 10 phone calls, and took the first and only offer. Another client at $500k sent only 3,000 letters and received 8 phone interviews and 6 follow-up interviews ... all within 9 weeks. He turned down 2 job offers and accepted a third that offered ownership. Another client at $200k sent 5,000 letters and did not get a single call. Another client at $150k sent 2,400 letters, received dozens of phone calls, 30 interviews, 9 job-offers, and took a job that tripled his salary to $450k.
Overall however, the average for those who do it right is a success rate of 85% in 90 days, with 50% getting multiple, simultaneous job offers, and 15% having a job created for them.
Strategies and options
Here are two strategies you can consider:
- Saturation: Send all your letters on the same day for 85% odds in 90 days. This is the fastest approach, and 50% get multiple, simultaneous job offers.
- Progressive: Send smaller quantities repeatedly until you land what you want. Your odds of multiple, simultaneous job offers go down and it takes longer, but you conserve cash. However, you might get lucky early, and you'll learn more with each additional mailing.
Either way, you're tapping into the hidden job market where competition is minimal. This maximizes your salary negotiation leverage.
In today’s busy world, your prospects will miss your message 2 out of every 3 times. This is why progressive mailings are so effective.
Social media
Social media is all the rage today to help with your networking. To see some of the resources available, click here.
LinkedIn for $300k+ Job Seekers
We're noticing a trend: JobBait clients (average $300k+) are shying away from LinkedIn. Some are minimizing their profiles, some don't have or want a profile, and some are eliminating their profiles. Click here for our analysis of what’s happening and why.
Do it yourself
The strategy of sending letters to decision-makers is so powerful, it should be abundantly obvious that it's your best strategy by far. However ... myth, legend and rumor may lead you to believe that you should never pay someone to help you find a job. Or, you may believe that snail mail is obsolete. Or, you may believe that spending money on paper and stamps is just a dumb thing to do. Or, you may have missed Marketing 101 in college and don't realize how important it is and what's required. Or, you may have never run a business and watched 20% to 25% of income go directly to sales and marketing every single year.
Whatever you believe, sending letters does work, and the results are statistically predictable.
