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Research Outline

Prepared for Vern | Delivered April 28, 2020

Campus Recruiter Cost per Hire

Goals

Support research for a sales process by providing the breakdown of cost per hire for campus recruiters, further broken down by students' majors (i.e. Engineers, Finance, Business, Liberal Arts, HR, Supply Chain).

Early Findings

  • There is an American Standard formula for computing cost-per-hire (CPH), as released in 2012 by The Society for Human Resource Management (SHRM). It is the sum of the total internal and external costs, divided by the total number of hires in a certain time frame.
  • There is a slightly different formula for computing the CPH for campus recruitment. It's the sum of the external and internal campus costs, divided by the total number of hires from the campus (including full-time, intern, and co-op employees).
  • Recruiting on campus can be very expensive. In 2016, the average cost per hire for on-campus recruiting was $4,999.
  • However, CPH varies wildly and not just by industry. Aside from industry, CPH can vary by company size, volume of hires, level of seniority needed, and the specific role being filled.
  • In addition, many college majors don't go on to work in a field connected to their major. The Federal Reserve Bank of New York conducted a study that showed only "27% of college graduates work in a field related to their major".