TheLadders.com Reaches Half-Million Member Milestone as Candidates Gear Up for September Job Hunting Season
Jobs Web Site Becomes Must-Have Fall Accessory for Executive Set
NEW YORK (September 6, 2005) - TheLadders.com, the world's leading $100k+ job search engine, today announced that it has reached 500,000 registered members in just over 2 years, adding over 100,000 new members this summer alone. This growth underscores the viability of the company's business model, as revenues are generated from job-seeker subscriptions rather than employer job postings.
Driven largely by TheLadders.com's aggressive expansion into new job categories and its steady roll-out of new features, the increase in subscribers is also attributable to new job growth in the high paying job market. In the second quarter alone, "hot job markets" such as such as Tampa, Miami, Baltimore and Washington, D.C. saw growth rates of up to 16% for new $100k+ job postings.
TheLadders.com's unique, consumer-based business model allows the firm to provide a greater number of pre-screened, high-end job listings than any other source. Unlike traditional job boards, which generate revenues when employers post job listings, TheLadders.com does not accept money from employers or recruiters. Instead, the company charges a $30 per month subscription fee to job seekers for access to its premium service. TheLadders.com also publishes a basic job leads newsletter for which it does not charge a fee.
Inverting the traditional job board business model in this manner has won praise for TheLadders.com from both job seekers and employers. From the job seeker perspective, there is simply no larger or more comprehensive source of high-quality six figure jobs anywhere in the world. Currently, the site has over 40,000 $100,000+ jobs listed. From the employer perspective, TheLadders.com is a breath of fresh air because its premium service fee discourages unqualified candidates who aren't seriously considering top-tier career opportunities.
"Our expansion to 500,000 members in just two years is a testament to the service we provide, and proves the necessity of our product for serious upper-level job seekers," commented TheLadders.com Founder and CEO Marc Cenedella, who believes the headiest job growth for 2005 is still yet to come. "Given the level of activity we've been seeing on both sides of the job hunt this summer, September is going to be an exciting time to be in the $100,000+ job market."