March 17, 2013
HEARTBREAKING: K Street Hiring Chill Leaves Members Cold.
It’s not as if they’re setting up outside of Union Station with “Will Work for Food” signs, but the cadre of ex-members from the 112th Congress is finding a lukewarm hiring market downtown.
“It has been more challenging this year than in any year I can remember, and I’ve been doing this for 18 years,” said Ivan Adler, a lobbyist headhunter with The McCormick Group.
K Street shops, many in revenue decline for the past couple of years, can no longer afford the luxury of a high-priced former member. Senators usually don’t entertain offers worth less than $1 million, and House members’ threshold is typically about $700,000. And it’s an investment with no guaranteed payoff. Ever.
Hey, maybe the revolving door is slowing even without my tax reform proposals.