New York, NY (PRWEB) January 10, 2005
Executives have spoken their minds about the worldÂs most effective recruitment tool: itÂs money. According to a survey of 677 job seekers in the $100k+ market conducted by executive job search service TheLadders.com, 84% would prefer a salary increase to a bump up in title.
Marking a departure from the boom time of the late 1990s, when it was common for new employees to be lured with the promise of a fast-track title (however contrived some of those titles may have sounded), executives in todayÂs market are far more interested in tangible compensation. The executives participating in TheLadders.com survey were asked: YouÂve just landed your dream job. Given the choice, which would you take: 10% more in salary or a bump up in title? Eighty four percent of respondents chose the salary increase while 16% said theyÂd prefer the title boost.
The survey of registered $100k+ executives was conducted on TheLadders.com Web site from November 8, 2004 through December 16, 2004. The margin of error is Â±3.76%.
Cash isnÂt everything, though. In a related survey of 1,566 job executives conducted in October, TheLadders.com found that the prospect of job fulfillment was perceived to be slightly more critical than total compensation when evaluating a new job offer. Thirty seven percent of the executives surveyed ranked job fulfillment as the most important career consideration, while a very close 32% placed the higher value on compensation. Twenty-one percent said that Âroom for growthÂ was the most critical factor, and 10% ranked Âproximity to existing homeÂ as the most important factor.
ÂThe days of trumped up titles and non-transferable monikers like Managing Director of Rainmaking and Senior Marketing Guru are largely behind us,Â said TheLadders.com founder and president, Marc Cenedella. ÂBoth job seekers and recruiters have gotten wise to inflated or contrived-sounding titles that donÂt mesh with real world experience. So, while a big title without the experience to back it up might make your mom proud, it isnÂt going to help your career.Â
Now reaching over 207,000 readers and featuring over 3,000 new $100k+ job listings each week, TheLadders.com is the largest online job search service catering exclusively to the $100k+ market. Marc Cenedella founded TheLadders.com in July 2003 after a tenure as Senior Vice President, Finance & Operations, at HotJobs.com, ultimately shepherding that companyÂs sale to Yahoo, Inc. (NASD: YHOO) in 2002. In May 2004 he was named Entrepreneur of the Year by award-winning marketing newsletter, MarketingSherpa, which cited TheLadders.comÂs unique business model as a key to its sustained growth.
About TheLadders.com, Inc.
Based in New York, TheLadders.com, Inc. is a privately held company offering online job search services to the $100k+ employment market. The company operates specialized job search Web sites for the sales (http://www.salesladder.com), marketing (http://www.mktgladder.com), finance (http://www.financeladder.com) and HR, legal and operations (http://www.upladder.com) industries, produces a series of industry-specific, weekly e-newsletters, and maintains the worldÂs first customer service blog (http://askmarc.salesladder.com/). The company also produces an electronic newsletter providing job market insights and data to executive recruiters (http://www.recruitladder.com). Backers of TheLadders.com include Matrix Partners and a group of private investors including the following individuals: Kevin Ryan, CEO, DoubleClick (NASD: DCLK) and Board Director, HotJobs.com; Tom Matlack, Megunticook Management; and Robert Chefitz, NJTC Venture Fund. More information on the company can be found online at http://www.theladders.com.
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