Hi Thread 8 bro, I really appreciate your encouragement and support
Yup I am feeling extremely anxious and worried right now.. it's 2.30am in the morning and I still could not sleep due to my impending decision come Monday or Tuesday... I am currently split between Option 2 and Option 3, I have a tendency to lean towards these options at the moment... I also tried to pre-empt these roles by doing some legwork and market research of my own
I put up some advertisements on online free classified websites such as sgadsonline and mysgfreeclassified to hire and recruit some insurance agents/financial services consultants but no one responded to my online recruitment advertisement... Hence my chances of recruiting 2 or more agents to join the insurance industry is pretty low. If I have the privilege to recruit 2 or more capable agents to join my team, then I have to admit and agree this Option 4 is going to be very rewarding... alas, up till this point, it seems like it is not meant to be
Yea Option 2 headhunter role certainly offers immediate stability right now, at least in the short term... but in the medium to long term, could I see a potential growth in my income and my career prospects? This is something that I have been seriously thinking about for the past few days.. progression of senior headhunter, team lead, or to a larger firm like Hay's, Stuart Spencer??
Initially I had this impression I would be handling a portfolio of clients where they are seeking headcounts to fill up executive or senior executive positions. I am aware I will not be allocated a portfolio of clients in the senior management, directorial segment owing to my lack of relevant experience in the headhunting industry even though I have done front line sales in both consumer/corporate banking and in private freelance education
What struck me most was, the headhunting firm wanted me to penetrate a new segment of the business instead, where I gotta call up existing clients as well as cold call new clients whom we have never had a relationship with, to provide this headhunting firm an opportunity to place contract staff (0.5-2 year contract positions) on behalf of these client companies... btw this headhunting firm has never dealt with contract positions before; they are mainly focused on search and placement of permanent roles.... thus they wanted to penetrate and hv a share in this new contract market segment
It's gonna be a daunting task, as i do not only source deals from exisitng and new client companies, subsequently I have to do the candidate searches all alone by myself, where the usual screening, vetting, interviews and then recommending the potential candidate for placement with these client companies, will then start rolling and kicking in
I can foresee drawing a basic salary in the next 3 to 4 months, owing to a tremendous amount of groundwork and foundation I need to establish in this new business development and penetration of contract positions... I only draw additional commission unless I have placed about 2 successful candidates in a month. Otherwise, if I only managed to place one successful candidate in a month, I won't be entitled to any commissions i.e. I am just justifying my basic salary of $3K during this window period
Option 3 does offer an avenue and a path back in the financial industry in the medium term, especially in SME Banking or probably even Investment Banking since this company does offer debt capital raising, even though the opportunities are far and few (gotta hunt for it)... my only concern is the basic salary for 3 months... I am willing to give it a shot even if they could only offer me $2K basic salary + commission, but the only issue is, from the 4th month onwards, will I be able to sustain a reasonable amount of income (achieved a reasonable sales revenue) going forward since it is fully commission-based thereafter?
Honestly, how do u guys feel about the SME financing environment (not consumer loans)right now and going forward in the near future? Cheap credit is readily accessible as rates are low.... but the issue of QE where bond purchases are gonna be gradually reduced and there could potentially be a rise in interest rates in 1st Quarter 2015, is a concern for me as well... no doubt I hear of a few people saying that companies, unlike individuals, will still require financing to improve their cashflow etc, even when interest rates are gradually increased, thus there could still be a few years of potential upside in the SME financing segment... Gee what do u guys think?
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