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How are conversion rates calculated for international hires?
How are conversion rates calculated for international hires?

For hires made with a salary not in USD, how does RecruitiFi determine the conversion rate at the time of payment?

RecruitiFi avatar
Written by RecruitiFi
Updated over a week ago

On the date of hire, the placement fee is determined based on the information provided by the employer.  At the moment a hire is logged in the RecruitiFi system, the conversion rate between USD and the foreign currency the hire was logged in is recorded based on Google Finance's conversion rate.  The conversion rate is then applied to the salary of the placement. Using this converted salary, we calculate the placement fee for the employer and a payout amount for you in USD.  

We understand that conversion rates may change over time, impacting the value of your payout.  However, since the service is provided at the time a hire is logged, the conversion rate must be recorded at that point in time, and the payout amount must be solidified.

You can always check how your placement fee has been calculated by clicking on Hire Details from your earnings page.

If you are being paid out in a Non-USD currency, your payout is converted to your preferred currency at the time of the payout. The bank determines this conversion rate at the time of payout.

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