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How large is the US resume improvement (reviews, re-writing, advice) market?
Hello! Thank you for your request to determine the size of the US resume improvement market. The short version is that the US market size for resume improvement is estimated at $268.364 million. There are an estimated 2,849 professional resume writers in the US.
METHODOLOGY
I have scoured the Internet for papers, articles and statistics related to this subject.
Since data on this market is extremely segmented, back of the envelope calculations were used in estimating the market size.
Also, from the conducted research it is apparent that resume writing forms part of the greater document preparation services market.
The data below is for professional resume writers, classifying their services as including: reviewing, updating, advising on and re-writing of resumes.
FINDINGS
According to IBIS World, the document preparation services market in the US is worth $5 billion, having grown at a CAGR of 0.3% since 2011.
According to the Resume Writers Digest survey, released in December 2015, the mean cost for a professionally written resume in the US is $603.82, and the median is $350. For hourly rates the mean is $105.64 and the median $150. Also, respondents stated that on average they completed 3 resumes a week.
91% of the respondents in this survey are located within the US, therefore statistics provided by this survey should be indicative of the US market. It should be noted that this survey includes resume writers who work privately as well as for businesses.
The survey goes on to state that many resume writers are members of at least one association. From the list provided we see that 82% of resume writers are members. After searching the websites of these associations, it was discovered that bearesumewriter.com, provides a comprehensive list of its members. According to the website, the association has 407 members, and correlating that with the claimed 13% of all resume writers that form part of this association we can estimate the total number of resume writers to be:
3,131 * 0.91 = 2,849, estimated number of professional resume writers in the US. Now if we multiply by the numbers above (average number of resumes completed per week, 52 weeks in a year and average price per resume), we get an estimated market size for professional resume writing to be:
2,849 * 3 * 52 * 603.82 = $268.364 million estimated market size for the US resume improvement market. This number seems fairly realistic, considering the entire document preparation services market is worth $5 billion, and this encompasses a very wide variety of services.
CONCLUSION
To wrap it up, the estimated US market size for resume improvement is $268.364 million. There are an estimated 2,849 professional resume writers in the US.
Please note, the required market size is not stated in any source consulted, but is based on statistical data that was available on the market.
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