Frequently Asked questions
What is 10 BY 10?
An invite only platform for desirable employers and reputable contingency recruiters in Silicon Valley. As an online marketplace, employers will gain access to a network of candidates through the platform’s recruiters; and recruiters gain access to a network of employers. Think Uber for drivers and riders. The more recruiters and employers, the easier and faster to connect both sides - win-win for both employers and recruiters.
Why should I work with 10 BY 10?
The best candidates only last a couple weeks and sometimes only days. Recruiters don’t get paid if they don’t place them during this short window. 10 BY 10 gives you instant access to more employers and increases your probability of getting paid. Speed is the key for successful placement; especially for the most desirable candidates.
It takes a lot of effort to find candidates who are open to new opportunities. All recruiters experience the wasted candidate problem - rejected candidates and left over candidates after a position is filled. 10 By 10 will continuously monitor if your candidates match new opportunities and notify you when we see a match.
How does 10 BY 10 Work?
Employer signs a single contract with 10 BY 10. Free to post jobs.
We search candidates already submitted by all recruiters. If matches found, we notify the recruiter to check candidates’ interests.
If not enough candidates are found, 10 BY 10 assigns the job to 1-3 recruiters.
10 BY 10 screens and presents qualified candidates to employers.
Employer pays 10 BY 10 only if the employer hires the candidate.
10 BY 10 and recruiter split the fee 50-50.
We assign each position to 1-3 recruiters because we don’t want all the recruiters to reach out to the same candidates from the same employer.
However all recruiters have visibility to all employers and can share the employer’s information with all candidates you sourced from your existing non-10 By 10 clients or your assigned employers. As an example:
Employer 1: assign to recruiter A
Employer 2: assign to recruiter B
Employer 3: assign to recruiter A & B
Employer 4…… Employer 10
Recruiter A can source new candidates using the name of Employer 1 & 3 only. Recruiter A can share the names of Employer 1-10 with all candidates. We will continue to match your candidate against new positions continuously (Employer 11, 12, 13, 14, 15,......)
We trust all recruiters on the platform are top notch and ethical. If we find recruiters contact employers directly or are not honoring the job assignment, we will need to change the process.
How much money would I make?
We sign up new clients, coach them on the hiring process, and ensure technical fit. You do the hard work of hunting and coaching qualified candidates.
In general, most position’s placement fee for 10 By 10 is 20% and recruiter’s share is 10% (We split the placement fee 50-50). Occasionally, 10 By 10 might sign contract with employer 15% or 25% placement fee, 10 By 10 still offers the recruiters 10%.
Here is an example using round numbers (not suggesting reality): If you currently make 10 placements a year for $30K placement fee (20% of $150K engineer), total $300K a year. If you can double the placements to 20 a year - half of them with your current clients and half of them with 10 BY 10, the placement fee total is likely to increases to $450K a year.
Why does 10 BY 10 do its own confirmation?
To ensure candidates are interested in the position and ready to interview for employers, 10 BY 10 needs the direct confirmation from the candidate.
How long do I own the candidate?
The recruiter owns the candidate for 180 days from the date of the submission to 10 BY 10. Ownership is extended for 180 days every time 10 BY 10 submits a candidate to an employer.
When will I get paid?
The recruiter only gets paid when the refund period (typically 90 days) has passed and the employer has made payment to 10 by 10.
Recruiter can’t work for the employer connected via 10 By 10 in any way (employee, consultant, or service provider) for 1 year from the date you submit any candidates to the employer.
Employers do not want recruiters to poach their employees. You can’t solicit candidates from the employers you have submitted candidates to for 2 years.