Cost per Hire by Industry

Goals

Support research on a sales process by providing the average cost per hire for several industries that may be recruiting college majors from Engineering, Finance, Business, Liberal Arts, HR, and Supply Chain in the USA.

Early Findings

  • The average cost per hire (for staffing firms) per industry varies widely.
  • For the professional, scientific, and technical industries, the the CPH was $783 for those in the 25th percentile and $6,862 for those in the 75th percentile, with an average CPH of $6,096 and a median of $2,000.
  • For Finance specifically, the CPH was $300 for those in the 25th percentile and $4,650 for those in the 75th percentile, with an average CPH of $5,100 and a median of $1,000.
  • For the administration and support industries, the CPH was $683 for those in the 25th percentile and $3,550 for those in the 75th percentile, with an average CPH of $3,075 and a median of $1,628.
  • Liberal arts majors do not have an industry that's as closely tied to their degree. Many of them become educators, or take further studies for Masters degrees or enter law. However, liberal arts emphasizes critical thinking, adaptability, and problem-solving, which help them enter STEM, business, marketing, sales, strategy, or even people-centered work like customer and account management. Because of this, their cost per hire is likely to vary widely. Since many of them elect to enter education however, that is the cost-per-hire provided here. It is $238 for those in the 25th percentile and $3,000 for those in the 75th percentile, with an average CPH of $2,225 and a median of $1,450.
  • There may be more paywalled information available from the Society for Human Resource Management (SHRM) that may be relevant. It is available here.

Proposed next steps:

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