NotchUp - Get Paid to Go on Interviews
Yesterday I received an email from my friend Retirement Hobo inviting me to join NotchUp . I was sitting there thinking, "oh no, not another social network!" Then I read the email in detail and it sounded quite interesting. Apparently NotchUp is a service that finds companies that would pay you to interview you. You can create a profile, set your price, and then wait for an offer. Sounds too good to be true? Even though I have no intention to look for a job now, I decided to sign in and see what it is all about.
First of all, NotchUp is in beta right now so only those with invitations or approved applications can sign up. The site is also painfully slow since its launch on January 28. When I signed up it prompted me to set my interview price. On the side it had a little form you could fill out for NotchUp to estimate a price to set. The form asks for your industry, position, and salary information and then spits out a number. It seems to give a higher valuation to those who have been at their current position for a good amount of time. This is probably to penalize job hopping. It suggested that I charge $290 per interview, but I just set it to $500 since I am just trying it out for fun. Then it asked which companies you would like to block from seeing your profile and whether you want recruiters to see your profile or not. Finally you can create your profile or resume. There was an option to import your profile from LinkedIn so I did just that and my profile was up and running in two seconds.
The site's layout currently looks like a clone of LinkedIn, and even the logo is quite similar. However I do not think the two companies are related other than that you can import your LinkedIn profile. You can edit your profile with links next to each position you have had and there is tab browsing for other options. There is also a little section for stats and feedback. The feedback box seems to indicate that the companies that interviewed you can rate you on whether you took the interview seriously and if your profile is accurate. Your payment is related to the feedback and if you are not a serious candidate the interviewer could choose not to pay you.
It may make no sense that companies would pay to just talk to someone, but in reality companies spend tens of thousands of dollars to recruit the people they want from competitors. It is really great that job seekers can now get a piece of the action usually reserved for recruiters. NotchUp is a good idea for companies who want those people who are not really looking for jobs actively. Only time will tell how this concept will work out, but the business model is that NotchUp is a middleman that charges a percentage of the interview fee you receive. So far quite a few big name companies including Google and Facebook have signed up with NotchUp to interview candidates. I think NotchUp has a brilliant idea that could entice candidates who would otherwise not bother with interviews to speak to a potential employer. I am not sure how the ratings system would work out since the site is so new, but it is pretty painless to set up a profile and it could net you a brand new job or just a few hundred dollars for your time to interview. If an interview is only a couple hours and you can be paid $200 to $300 then it is a very good deal. A possible negative effect of NotchUp is that we may see people set up fake resumes that are extremely attractive just to bag interviews, and then they would not care if they fail because they may still be paid.
If you want an invitation to NotchUp from me please send a private message with your name and email to me in the forums and I would get a 10% referral fee for each successful interview you complete in the first year of your enrollment. I will keep your information strictly confidential. Once you are signed up you can also refer the best people you know who are stuck in jobs they may not be totally thrilled with and possibly receive a referral fee.