Market Overview

StreetID Scores Praise, Potent Write-up in Forbes

The growing financial career matchmaking site has risen to a new level with mainstream publicity and nationwide attention.

Forbes' Susan Adams, who calls herself a “skeptic” of online job sites that aren't named LinkedIn (NASDAQ: LNKD), provided an eye-opening critique of StreetID this month.

“Jesse Marrus, 32, the founder and president of StreetID.com, a three-month-old site targeted at financial jobs, broke through my skeptic's barrier when he described his site as devoid of job listings and rich with searchable specifics,” Adams wrote. “For hedge funds, investment banks, and private equity outfits looking to hire candidates with particular qualifications, StreetID could prove to be a boon. For job seekers in the financial realm, it only takes ten minutes to fill out the site's form, which I'm convinced is time well spent.”

Adams goes on to explain that once you've checked off boxes in StreetID's “detailed questionnaire, which includes information like whether you're willing to relocate, and a multi-tiered checklist that registers whether candidates have worked as a broker dealer, in private equity, as an analyst, etc.,” the hiring manager can get in touch with you. Adams also noted that job seekers can remain anonymous – a feature Benzinga reported on last December.

“One feature I think is valuable: there is a box for your current salary, but the software doesn't require you to fill it out,” Adams wrote, adding that she recommends candidates “stay mum about compensation, except to say they want to make a ‘competitive' sum, and let the employer be the first to name a number.” With StreetID, you can tackle the tricky salary question in any way you want.

Adams also wrote about the dilemma that employers face when using LinkedIn to search for prospective job candidates. While LinkedIn was created to be the Facebook for working professionals, it has slowly become a bit more than that. It is, in many ways, a Facebook alternative where people post silly status updates and other trivial tidbits. Consequently, not every person on LinkedIn is looking for a job. This can make it hard for employers to find what they're looking for when using traditional social media sites.

StreetID is different. Adams said that candidates who register with the site are either out of work or actively looking. Thus, employers who use the site are less likely to encounter working professionals who see every social networking site as a Facebook alternative.

“One StreetID client who didn't want to be named, for fear of resume overload, says he has hired five people so far using StreetID and has offers out to another 11 candidates he found through the site,” Adams recalled. “In the past, when he tried running an online ad, he got a flood of 500 resumes, but ‘no one was even close' to the qualifications he needed. He describes the experience as ‘beyond horrendous.'”

Looking ahead, Adams reports that StreetID has no desire to support markets other than the financial sector. But its aforementioned founder and president, Jesse Marrus, believes the site can go national.

In time, StreetID could even expand to other nations.

Follow me @LouisBedigian

Posted-In: Forbes Jesse Marrus StreetID Susan AdamsSuccess Stories Startups Tech

 

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