Pace University and Purchase College, SUNY, have partnered with new job website StreetID to place their grads into positions on Wall Street and in local financial firms. “My role is to access jobs for our graduating students and recent alumni, which is a challenge,” says Barry Miller, PhD, manager of new employer development at Pace University. StreetID follows the model of dating sites, but instead of bringing singles to other singles, it brings job seekers to employers. “They’re responding to the trends in the marketplace, and that’s what we need,” Miller says.
Jesse Marrus, who for the last five years managed Street Advisor Group, a New York City financial recruiting company, launched the site this past December after observing what he believes are shortcomings on other online job sites. Most, he says, allow everyone (even the unqualified) to apply for any position. Instead of putting up job postings and letting anyone apply, StreetID connects hiring managers with job candidates based on compatibility. The site does this by having candidates build a profile, what the site dubs a “virtual résumé,” by filling out specific, predetermined criteria such as work experience, education, and specialties. But instead of this “virtual résumé” getting lost in an onslaught of emails on the employer’s end, hiring managers can search those same criteria to find candidates who match those they’re interested in hiring, and contact only those candidates. So, for example, if a company is looking for a hedge fund manager with a legal background, who’s also a compliance specialist, the employer can enter that in the search and only be shown candidates who fit that exact criteria. They can then contact as many, or as few, of those candidates as they see fit.
Currently, the site has 10 employers as clients and a pool of more than 6,000 job candidates, for whom the service is free. For companies, the service costs $4,200 for a quarterly package and $15,000 annually.