Ten per cent fee promises to shake up IT recruitment

City finance houses are being wooed by new recruitment company 10% Fee Ltd, which is promising to undercut the market with full transparency of charges for placing permanent and contract IT professionals.

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Ten per cent fee promises to shake up IT recruitment

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IT recruitment specialist Raymond Wilkins, who is chairman of the company, says many UK agencies are charging fees of over 20%, with complicated discounts bringing charges down to either 15% or 17.5%.

In the current depressed market some firms are prepared to offer a low cost service to selected clients, admits Wilkins, but will not discount publicly.

He adds that his company charges a 10% gross margin on all contractors and a 10% fee per permanent placement based on only the basic salary.

"10% Fee Ltd charges a 10% placement fee so that everyone knows what they are paying," says Wilkins.

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