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TheLadders Executive Employment Outlook: Job-Seeking Execs Plan to Spend Less Time in Employment Market


67% Say Now is Better Time than Last Year To Be in the Job Market

NEW YORK (November 7, 2004) - With 337,000 jobs added to American payrolls during the month of October, economists are seeing a turn-around in the health of the economy. How are workers at the higher end of the pay scale interpreting the current job market? According to a survey conducted by executive job search engine TheLadders.com, job seekers in the $100k+ market have become increasingly optimistic, with many saying it will only take them one to three months to land their next positions.

How Long Do You Think It Will Take You To Land Your Next Job?
# of Months % Nov 04 % Aug 04
1-3 Months 32% 30%
3-6 Months 32% 35%
6-12 Months 22% 23%
Over 12 Months 13% 12%

Of the 3,225 executives surveyed, 32% say they expect their current job hunt to last between one and three months. This number is up slightly from 30% when TheLadders.com quarterly Executive Employment Outlook survey was last conducted in August 2004. An equal amount (32%), anticipate a three-to-six month search, down from 35% in August. Among the less optimistic executives, 22% expect a six-to-twelve month job search and 13% are preparing themselves for twelve months or more in the job market (see table at right).

The survey of registered $100k+ executives was conducted on TheLadders.com Web site from October 8, 2004 through November 3, 2004. The margin of error is +/- 1.71%.

In a related survey of 1,657 executives, 67% of respondents said, "now is a better time to be in the job market than this time last year." This survey was also conducted online at TheLadders.com between October 8, 2004 and November 3, 2004. The margin of error is +/- 2.4%.

"Last week we posted over 3,000 $100k+ jobs on our Web site and newsletter," explained TheLadders.com founder and president, Marc Cenedella. "We're seeing steady growth in this market and, though they certainly expect to spend a sizable chunk of time looking, our readers are telling us they are upbeat on their job prospects."

Now reaching over 170,000 readers, TheLadders.com has succeeded in this exclusive slice of the market by turning the traditional recruitment business model upside down: it does not accept money from hiring firms, recruiters, or recruitment advertising agencies. Instead, it generates revenues by offering a premium service to job seekers, which includes a greater number of job listings, more detail on each job, early delivery, and more features for $35 per month. In addition, the company offers a free, basic service to job seekers.

Marc Cenedella founded TheLadders.com in July 2003 after a tenure as Senior Vice President, Finance & Operations, at HotJobs.com, ultimately shepherding that company's sale to Yahoo, Inc. (NASD: YHOO) in 2002. In May 2004 he was named Entrepreneur of the Year by award-winning marketing newsletter, MarketingSherpa, which cited TheLadders.com's unique business model as a key to its sustained growth.


About TheLadders.com
Headquartered in New York, TheLadders.com, Inc. is a privately held company offering online job search services to recruiters and job seekers in the $100k+ employment market. Ex-HotJobs.com executive Marc Cenedella founded TheLadders.com in 2003 to address the unique job seeking and recruiting requirements in this market sector. Investors include leading venture capital firm Matrix Partners and prominent private investors such as Kevin Ryan, CEO, DoubleClick, Tom Matlack, Megunticook Management, and Robert Chefitz, NJTC Venture Fund.

In addition to its primary member-based site, the Company operates vertical job search Web sites for sales, marketing, finance, human resources, law, technology, and operations. All sites feature daily job updates as well as industry-specific weekly e-newsletters. For corporate and executive recruiters, TheLadders.com delivers the same highly personalized experience. TheLadders for Recruiters (www.recruitladder.com) enables them to easily post $100k+ job openings at no charge. The Company further differentiates itself from other online job boards that fall prey to fraudulent job postings by implementing human mediated search, ensuring all job postings are fully qualified before being published to members.

More information about TheLadders.com can be accessed at www.theladders.com.

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Media Contacts
Maria Schiller
TheLadders.com
646-453-1913
maria.schiller@theladders.com