As companies continue to lean into recruiting on LinkedIn, many are wondering – what will LinkedIn-sponsored jobs cost in 2024? In this in-depth guide, we’ll break down everything you need to know about LinkedIn-sponsored job pricing for the upcoming year so you can make an informed decision for your recruiting budget and strategy.
LinkedIn’s Impact on Recruiting Today
LinkedIn has solidified its position as a central platform for professionals and the recruiting process. With over 850 million members globally, it gives employers access to a huge pool of active and passive job seekers. Some key stats that highlight LinkedIn’s recruiting influence:
- 70% of recruiters claim LinkedIn is their top professional networking platform for finding candidates.
- 86% of employers use LinkedIn for sourcing talent.
- LinkedIn job posts receive 10x more applications than other job sites like Indeed or Monster on average.
With numbers like these, it’s no surprise that companies are willing to pay to get their jobs in front of more eyeballs on LinkedIn. Sponsored job posts let employers do just that by promoting select jobs to a wider potential audience.
How Sponsored Jobs Work on LinkedIn
When you post a job to LinkedIn as an employer, it will automatically show up in relevant search results and groups. However, the reach is relatively limited compared to millions of LinkedIn members.
Sponsored Jobs let you boost visibility and give priority placement to select postings. Here’s a quick rundown:
- You choose the job posts you want to sponsor from your existing listings.
- Sponsored jobs appear at the top of search results on LinkedIn Jobs pages and in the sidebar on LinkedIn.com for targeted members.
- Promoted listings also appear on partner job sites like Glassdoor that tap into LinkedIn’s talent pool.
- Performance is tracked via the number of total applications and clicks the sponsored job receives.
- Pricing is based on cost-per-click (CPC) which you define upfront within certain guidelines.
The goal is to get your job in front of qualified candidates who are open to new opportunities versus just passive job seekers. It allows for more measuring and optimization of spending.
LinkedIn Sponsored Jobs Pricing in 2023
Let’s look at the current pricing structure for LinkedIn Sponsored Jobs in 2023 to understand how costs may change next year. There are a few key factors that determine rates:
Location – Pricing varies based on the country/countries your job is targeted towards. U.S. postings tend to have higher costs.
Experience Level – Jobs targeting entry-level candidates are cheaper than those seeking directors or VPs.
Industry – In-demand fields like tech pay higher CPCs versus others with more applicants.
Budget & Frequency – Daily spending caps and frequency of impressions impact your max cost.
For 2023, here are some average CPC ranges based on these factors:
- U.S. entry-level jobs: $0.75 – $1.50 CPC
- U.S. mid-level jobs: $1.25 – $2.50 CPC
- Canada/UK jobs: $0.50 – $1.25 CPC
- High-skill jobs in tech/finance: $1.75 – $3.00 CPC
So for a mid-level U.S. job with a $50/day budget, the total cost might be $100-200 over 2 weeks depending on performance. Pricing is meant to stay fluid to changes in demand throughout the year as well.
Projecting LinkedIn Sponsored Jobs Costs for 2024
Now that we understand how LinkedIn-sponsored job pricing works currently, let’s analyze factors that could impact costs in 2024:
Continued Platform Growth
LinkedIn membership growth has slowed some but still increases millions each year. More professionals means more competition for attention and more opportunity cost to promote your jobs. Prices may rise 5-10% as a result.
A potential recession or economic slowdown in 2024 could see unemployment rise. That may lead to increased usage of LinkedIn by both job seekers and companies recruiting, pushing costs higher initially.
Rising costs of living and doing business due to high inflation will squeeze employer budgets. LinkedIn may implement small increases of 3-5% to offset higher operational expenses.
Advanced Targeting Options
If LinkedIn rolls out new targeting variables like skills, alumni networks, and additional locations – it could command higher CPCs from companies wanting ultra-narrow reach.
Demand in Key Roles/Industries
Shortages may persist in high-paying fields like tech, keeping costs elevated for roles in high demand. Industries facing surplus talent could see discounting.
Putting it all together, here are reasonable projections for LinkedIn Sponsored Job costs in 2024:
- U.S. entry-level jobs: $0.80 – $1.75 CPC
- U.S. mid-level jobs: $1.35 – $2.75 CPC
- Canada/UK jobs: $0.55 – $1.50 CPC
- High-skill tech jobs: $1.90 – $3.25 CPC
Budget at least 5-10% increases from 2023 levels to be safe. And monitor economic/industry conditions that could sway pricing one way or the other throughout the year.
Alternatives to Consider
If targeted LinkedIn-sponsored job costs rise more than budgeted in 2024, here are some alternative tactics to still get quality reach:
Organic LinkedIn Posting
Free job posts still provide value through search and group placement. Maximize profile/content visibility when applying.
LinkedIn Showcase Pages
Build out your employer brand page to passively attract talent with value adds like content, and follower growth over time.
Company Website Placement
Optimize job pages on your site and promote important openings via social referrals for natural applications.
Strategic LinkedIn Groups
Engage key groups related to your roles by starting discussions and participating to get introduced to members when roles open.
Incentivize employees to share openings among their quality networks where trust already exists for a warm introduction.
The key is testing multi-pronged strategies versus relying on any single channel. Watch costs but don’t lose sight of quality hires that aligned culture-fits provide over low-cost volume plays.
FAQs About LinkedIn Sponsored Jobs
Here are answers to some frequently asked questions about LinkedIn Sponsored Jobs:
How do I set a daily budget for my sponsored job?
When creating or editing a sponsored job post, you’ll be able to input your daily budget limit for impressions in the “Budget & Schedule” settings. This helps control your maximum spend.
Can I track the performance of my sponsored jobs?
Yes, detailed metrics on clicks, applications, profile views, and cost-per-hire are available in your LinkedIn Ads Manager dashboard. You can pause low-performing jobs and optimize high performers.
Is my budget spent all at once or throughout the day?
Your budget will be spent evenly throughout each advertised day. So on a $50/day job, around $2.10 would be spent per hour versus the full amount upfront. This smooths out pricing.
How far in advance can I schedule sponsored jobs?
You can sponsor jobs up to 6 months in advance. This allows advanced planning if you know opening dates far ahead while maintaining flexibility to adjust as needed.
Do sponsored jobs appear on the LinkedIn mobile app too?
Yes, promoted job listings will show up whether members are browsing LinkedIn Jobs on a desktop or via the LinkedIn mobile app. This helps you reach talent on any device.
What if I go over my daily budget – will I be charged more?
No, you won’t pay over your set daily budget limit. But keep in mind unused budget each day does not roll over – it’s use it or lose it within that 24-hour window.
While uncertainty remains about the economy in 2024, one thing is almost certain – the value of LinkedIn for recruiting top talent will continue growing. Sponsored jobs provide an effective way to get premium placement for your most important roles to keep your hiring pipeline full of quality candidates.
Monitor projected costs versus your budgets but don’t be afraid to test investment levels that make sense. Look beyond price alone to the quality and cultural fit that comes with aligning yourself as an employer of choice where candidates want to be found. A mixed approach as outlined here can help optimize your LinkedIn recruiting no matter what pricing changes may lie ahead in the new year.