hello all. i was wondering if finders fees are common practice within the profession. i recommended a friend's firm for a fairly large job (around 100k in design fees), the firm interviewed and has since gotten the job. the firm was very appreciative and in general i did it because i thought the firm does good work and would be a good match as well as for general karma's sake, but when i told this to an associate they asked if i was given any type of fee by the firm for getting them the job. is this a common practice? should i ask them for something after the fact or is too late and if so how much? any info regarding this matter would be much appreciated. thanks in advance.
yeah it's common, but it's more common that they stiff you. if at the very least they don't have you on the design team then you know how they feel about you. next time though i'd work out those particulars prior to bringing in the work that way you can evaluate whether or not it's worth the effort.
I'd say the karmic payoff is what you were after in the first place, no? And that is a wonderful thing to do. I count on my AIA connections - architects who specialize in health care, university work, airports, etc - to send me referrals for the tiny custom residential work that I do. When those jobs come through, a thank-you phone call (and yes maybe a basket of fruit or bottle of wine) is appropriate.
Referrals and networking is how this business operates. If you can honestly say "I got them the job" that is a serious level of involvement that should be worked out as a business transaction beforehand. But I'm guessing you referred them and they got the job themselves via submitting work samples, attending an interview, highlighting their appropriatenesses for the job, etc.
impalajunkie - you are compensated in that you stay on as part of the team. the firm doesn't get new work = no job for impalajunkie.
if you're in a corporate environment where things are more about a short-term action/reward dynamic, you might expect that the day to day victories could result in some recognition/compensation.
but if it's a small firm, it's just part of what you do in taking your place on a team trying to keep the place running. you bringing in work will be recognized by the owner(s) and will pay you back later in some form. thinking you get $$$ for clients is mercenary, bordering on the less-than-professional. well, ok, maybe not unprofessional. but tacky at least.
Vado, I just wanna make this very clear. A 'Kiwi' is a small flightless bird. A 'kiwi' is a person from New Zealand. 'Kiwifruit' is what you see in that bowl.
Having kiwis in a gift basket in the US means someone has been dealing in endangered species!
Sorry to be anal. It just bugs me is all. I'm sure agfa will back me up....
Most larger firms will give a "finders fee" or referral bonus for finding them qualified employees. At least in a tight job market. You just usually have to already work for said firm.
kiwifruit = chinese gooseberry is a vine that grows in most of the 48 states, not just new zealand.
an employee who consistantly brings work to a firm should be recognized and compensated for those connections and commissions. like being made a principal or some other profit sharing slice... if you only bring in one project and the well then runs dry, you should just expect a nicer then normal bonus at the end of the year.
You are indeed correct treekiller. I think ENZA in NZ were trying to trademark the name 'Zestpri' for a while. Don't think it really caught on. Sounds like a new Toyota....
finder's fee
hello all. i was wondering if finders fees are common practice within the profession. i recommended a friend's firm for a fairly large job (around 100k in design fees), the firm interviewed and has since gotten the job. the firm was very appreciative and in general i did it because i thought the firm does good work and would be a good match as well as for general karma's sake, but when i told this to an associate they asked if i was given any type of fee by the firm for getting them the job. is this a common practice? should i ask them for something after the fact or is too late and if so how much? any info regarding this matter would be much appreciated. thanks in advance.
yeah it's common, but it's more common that they stiff you. if at the very least they don't have you on the design team then you know how they feel about you. next time though i'd work out those particulars prior to bringing in the work that way you can evaluate whether or not it's worth the effort.
your finder's fee will probably be a fruit basket at xmas time...
enjoy...
i should be so lucky....
$5K
its got kiwis!
I'd say the karmic payoff is what you were after in the first place, no? And that is a wonderful thing to do. I count on my AIA connections - architects who specialize in health care, university work, airports, etc - to send me referrals for the tiny custom residential work that I do. When those jobs come through, a thank-you phone call (and yes maybe a basket of fruit or bottle of wine) is appropriate.
Referrals and networking is how this business operates. If you can honestly say "I got them the job" that is a serious level of involvement that should be worked out as a business transaction beforehand. But I'm guessing you referred them and they got the job themselves via submitting work samples, attending an interview, highlighting their appropriatenesses for the job, etc.
It's a good thing to do. Karma pays back.
if i'm an employee at a firm and bring clients in to my boss, should i be compensated for bringing the firm work?
as an employee for sure...partners in the practice typically would if they brought in the work...so you should be compensated appropriately
you were lost when I found you - walkmen
impalajunkie - you are compensated in that you stay on as part of the team. the firm doesn't get new work = no job for impalajunkie.
if you're in a corporate environment where things are more about a short-term action/reward dynamic, you might expect that the day to day victories could result in some recognition/compensation.
but if it's a small firm, it's just part of what you do in taking your place on a team trying to keep the place running. you bringing in work will be recognized by the owner(s) and will pay you back later in some form. thinking you get $$$ for clients is mercenary, bordering on the less-than-professional. well, ok, maybe not unprofessional. but tacky at least.
Vado, I just wanna make this very clear. A 'Kiwi' is a small flightless bird. A 'kiwi' is a person from New Zealand. 'Kiwifruit' is what you see in that bowl.
Having kiwis in a gift basket in the US means someone has been dealing in endangered species!
Sorry to be anal. It just bugs me is all. I'm sure agfa will back me up....
As you were...:)
Most larger firms will give a "finders fee" or referral bonus for finding them qualified employees. At least in a tight job market. You just usually have to already work for said firm.
kiwifruit = chinese gooseberry is a vine that grows in most of the 48 states, not just new zealand.
an employee who consistantly brings work to a firm should be recognized and compensated for those connections and commissions. like being made a principal or some other profit sharing slice... if you only bring in one project and the well then runs dry, you should just expect a nicer then normal bonus at the end of the year.
You are indeed correct treekiller. I think ENZA in NZ were trying to trademark the name 'Zestpri' for a while. Don't think it really caught on. Sounds like a new Toyota....
PS they go great on pavlova no matter what they're called or where they're grown...
http://www.urbandictionary.com/define.php?term=pavlova
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