Cost of Saving

Worked examples / Hiring: how many steps, and which ones

How many interview rounds?

Five interview rounds a week apart for a role paying about $104,000. Eight candidates start and half go on each time. The question is which round stops adding more than it costs.

The rounds after round 3 cost more than they get back

Stopping after round 3 would leave you $3,298 better off.

It costs$23,590over 5 rounds
It takes off the risk$27,667of a hire that does not work out
Put in your own numbers

This is a worked example with illustrative figures, not data about any real person or company. Change any of them in the calculator and the answer changes with them.

How this answer was worked out

Round 1costs $6,700, gets back $12,000: +$5,300
Round 2costs $5,150, gets back $7,200: +$2,050
Round 3costs $4,295, gets back $4,320: +$25
Round 4costs $3,796, gets back $2,592: -$1,204
Round 5costs $3,650, gets back $1,555: -$2,095

Every formula is written out on the formulas page.

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