I have been working at Selby Jennings full-time (More than a year)
- Great reward scheme which has options and is flexible to what is important to you (including 1.5hr lunch breaks, leave early, lunch clubs,free language lessons)
- great graduate training. Very hands on and tailored
- International relocation opportunities
- Meritocratic structure
- 5K cap on all deals
- high targets set for relocation to other offices
- no diversity of work force (average age is low 20s)
relatively young environment which at the beginning is fun but quickly turns sour.
good location in Bank.
ping pong table (but only use in your spare time not within contracted hours)
This company used to look at other recruitment firms and criticize the fact that they had a weak commission structure, you had a threshold before you made any money and there were caps on how much was spent on incentives, now they have become everything they said they weren't.
Training - the company has invested a lot in trainers over the last few years but unfortunately these trainers only teach general recruitment techniques. the industry knowledge is taught by 'senior management' which is a bit of a joke as there are only a handful of people that have been there over 3 years. Ask them who managed each team a couple of years ago and you will find that those people have left and there's a good reason for that.
1. low base salaries and team commission structures. top billing consultants are pushed into managing people quickly yet only paid 2% on team deals which means you take a massive pay cut.
2. incentives are rubbish. most top billers don't even get a reward at the end of the year.
One person in the history of selby jennings has managed to get one of the rolexs they advertise and 2 people in the whole of Phaidon, that's across hundreds of people over ten years.....
lunch club's which are advertised as being Michelin start luxury have a cap of £45 per person send which means you get a cheap lunch, bit of wine at the table and then have to pay for your own drinks.
Across a company of hundreds only 20 people globally get to go on the end of year holiday, 10 of those are managers and support staff and the rest are billing consultants. that's only around 10 billing consultants across about 350 people.
3. The company is extremely tight on costs, client entertainment basically never happens and incentives aside, some people in the company as a whole even have to pay for their linkedin accounts........
4. the work hard play hard culture has gone. people just dont earn t he same amount of money anymore. junior consultants now have a threshold of 5k per money before they make commission. which starts at 10%. that means if you do a 10k deal (which is the average deal size) every month you only earn £500 before tax. the rest goes into the companies pockets.
so basically even if you hit their first year target of 100k billed you would only make 5k commission before tax. that's a max of 25k earnings (their base salary is 20k).
Other than the US the rest of the offices have struggle to grow.
Singapore has lost a lot of its staff and struggle to grow with its head being shipped back to London.
Zurich never got off the ground.
London's attrition rate is over 80%. i think one year they hired over 100 people and they headcount only grew by 2 because so many people left.
they constantly promote culture and values but truthfully all that has gone!
work life aside, the firm has an awful reputation with clients. the name of selby jennings these days prevents people from wanting to work with you.
Advice to Management
train your staff.
reward those that are loyal
if people decide to leave maybe be nice to them instead of ignoring them.
stop getting marketing to fit in the employee satisfaction surveys just so you can win awards. its not a true reflection of who you are.
I worked at Selby Jennings (More than a year)
Good office location at Bank.
Seriously unpleasant, boiler-room type environment, longer than contracted hours, ridiculously high targets, lack of leadership and management - senior management are disinterested, little work/life balance, high staff turn over, poor "training programme", distasteful culture in the office - consultants are hardly "consultative" or "market experts" - CVs are often sent without candidates' prior consent on a speculative basis - some desks have little or no client relationships.
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I worked at Selby Jennings full-time (More than a year)
The commission is very good at Selby with 15, 20 or 25% of a deal size and these rise by 5% if you hit certain targets. Realistically you can double your base salary by having a half decent year (Base is £18-20k).
This is also on an individual basis so you are accountable for your own performance on not relying on others before you can get commission, which often happens at other recruiters.
The social life around work on Thursday and bi-monthly Lunch Clubs on a bi-annual basis are also available for top performers and are enjoyable to go on.
Very target driven right down to calls per day, interviews, deals etc. although that said this is consistent with any recruitment company.
Hours are significantly longer than contracted (working 8-7 rather than contracted hours of 8:30-6:30). Furthermore, unpaid overtime is always expected regardless of what you're achieving (usually an extra 1-2 hours a day on average).
Promotions are at a set level of business done in a financial year. However, you effectively do the same job as before but just on slightly increased commission rates and you may get a junior to manage. However, this person often isn't interviewed by you and so mismatches often occur.
Holiday isn't an option (I had circa 8 days in 2 years) and any that is approved is subject to your performance. This is something you have to realistically understand before working here.
The basic salary isn't enough to live in London other than rent and food. Therefore if you want to go to the social events, you need to ensure you're regularly performing. Not so much a negative as it motivates you to work hard but worth highlighting to anyone considering a job at Selby.
Staff turnover is extremely high (one year I was there they hired 62 new people in a year but also fired 58). Expect the pressure to be on all the time once you've completed your probationary period.
Advice to Management
Investment in talent for the long term and be consistent with targets/incentives that are set. It can also be highly de-motivating to hear that you're not doing well but offer no new ideas on why this may be happening other than your own laziness.
It would also be worth trying to understand the issues that de-motivated employees are having and this way, it would help to turns things around more effectively for the current employee, saving significant investment in new staff that have to come in and learn a new market.
I have been working at Selby Jennings full-time (More than 3 years)
great exposure to all aspects of the role early in your career
good culture and incentives
strong commission scheme
plenty of support and guidance
clear path to progress career and earnings
hours can be long, but is the nature of the industry
Advice to Management
keep pushing and growing
keep listening to your staff
keep telling people where we are going and why - is a great story
I have been working at Selby Jennings full-time
It's a young company across the board, so the work atmosphere is fun and vibrant. If you work well and consistently then the salary is quite a bit above average salary. If you work very hard, then the salary is excellent. Your goals are obvious, and you know exactly how, when and how much your reward will be, which is a good motivator.
The work can be monotonous. There can be periods where it is not very prosperous even when you are working very hard. Part of the work is luck, which can be infuriating, but the more things you have going on the more chance you have of things going through. Career progression is only possible through very high billings.
Great compensation and commission structure on all work.
Great perks including Company holidays, lunch clubs and much more.
Good buzz- yound age group, good social scene
KPI's are the only judge of performance
Advice to Management
There are clear favourites.
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