INTERVIEWING: Recession Salary Negotiation Tactics
In today's
market, many job seekers fear negotiating their salaries too
strongly, lest they rule themselves out of contention.
Hey - we're in a recession, aren't we?
It depends upon whom you ask. Some sectors of the economy (housing, for instance) certainly seems to indicate we're in a recession.
As a result, many job seekers feel they have less bargaining power than they once did. And, to a certain degree, that feeling is correct. But does that mean employers have all of the power when it comes to salary negotiations?
No. They just have a little more power in salary negotiations than they did, say, in the 1990's. But job seekers can - and still must - negotiate their salaries to get the pay their positions deserve. Here are a few recession salary negotiation tactics that can help you earn the pay you deserve:
It's not
what you know... Your
chances of a fatter payday during a recession will improve if you
either personally know the person with whom you're negotiating OR you
were referred to the company by someone who knows the hiring manager.
As such, your recession salary negotiation starts with your network.
Before you head into your work search full speed, build and nurture
your network. Renew
old contacts and call recruiters with whom you've worked.
Knowing the hiring manager or being referred to the company by
someone with clout will make your recession salary negotiations much
more productive for you.
Research
salaries. Do
you know what others in your position are making? You should -
otherwise you could be asking for too much or too little. Check out
Salary.com
for comparable salaries. You may also want to ask employees and
hiring managers at competing companies what new hires in your
position are being paid. The salary data you collect will give you a
good idea as to what your skills are worth in the current market.
Once you have this information, you can enter into recession salary
negotiations with confidence.
Sell,
baby! Sell!!!
Irrefutable
Law of Unemployment
#3 states: "All job seekers are in sales." You're selling
your talent and skills - both of which have value in any economic
climate. The thing to keep in mind is that everything
is negotiable
- even in a recession. Put on your sales hat and sell to their pain.
Point out your features and benefits. If you sell yourself properly,
your recession salary negotiations will be successful.
Learn and
practice. Practice what you'll say during your recession salary
negotiations and read up on some of the best ways to handle salary
negotiations in any market. Here are a few posts to help your
recession salary negotiations:
INTERVIEWING: Gamesmanship
INTERVIEWING: Negotiating and Gamesmanship (Supplemental)
INTERVIEWING: Negotiation Sales Skills
INTERVIEWING: How to Negotiate a $10,000 Raise In 5 Minutes or Less
IN THE CARAVAN: To be successful in recession salary negotiations, make a strong connection with the hiring manager before entering into salary negotiations, conduct salary research and put on your sales hat.
LATER TODAY: 15 Ways to Read an Interviewer Like a Book (Podcast)
NEXT THURSDAY: Stress Free Interviews
Check out last Thursday's posts:
INTERVIEWING: Professional Coyness
INTERVIEWING PODCAST: Bad Interview Questions and Answers
Find Financial Jobs
Find Banking Jobs
Find Customer Service Jobs
Hey - we're in a recession, aren't we?
It depends upon whom you ask. Some sectors of the economy (housing, for instance) certainly seems to indicate we're in a recession.
As a result, many job seekers feel they have less bargaining power than they once did. And, to a certain degree, that feeling is correct. But does that mean employers have all of the power when it comes to salary negotiations?
No. They just have a little more power in salary negotiations than they did, say, in the 1990's. But job seekers can - and still must - negotiate their salaries to get the pay their positions deserve. Here are a few recession salary negotiation tactics that can help you earn the pay you deserve:
It's not
what you know... Your
chances of a fatter payday during a recession will improve if you
either personally know the person with whom you're negotiating OR you
were referred to the company by someone who knows the hiring manager.
As such, your recession salary negotiation starts with your network.
Before you head into your work search full speed, build and nurture
your network. Renew
old contacts and call recruiters with whom you've worked.
Knowing the hiring manager or being referred to the company by
someone with clout will make your recession salary negotiations much
more productive for you.
Research
salaries. Do
you know what others in your position are making? You should -
otherwise you could be asking for too much or too little. Check out
Salary.com
for comparable salaries. You may also want to ask employees and
hiring managers at competing companies what new hires in your
position are being paid. The salary data you collect will give you a
good idea as to what your skills are worth in the current market.
Once you have this information, you can enter into recession salary
negotiations with confidence.
Sell,
baby! Sell!!!
Irrefutable
Law of Unemployment
#3 states: "All job seekers are in sales." You're selling
your talent and skills - both of which have value in any economic
climate. The thing to keep in mind is that everything
is negotiable
- even in a recession. Put on your sales hat and sell to their pain.
Point out your features and benefits. If you sell yourself properly,
your recession salary negotiations will be successful.
Learn and
practice. Practice what you'll say during your recession salary
negotiations and read up on some of the best ways to handle salary
negotiations in any market. Here are a few posts to help your
recession salary negotiations: INTERVIEWING: Gamesmanship
INTERVIEWING: Negotiating and Gamesmanship (Supplemental)
INTERVIEWING: Negotiation Sales Skills
INTERVIEWING: How to Negotiate a $10,000 Raise In 5 Minutes or Less
IN THE CARAVAN: To be successful in recession salary negotiations, make a strong connection with the hiring manager before entering into salary negotiations, conduct salary research and put on your sales hat.
LATER TODAY: 15 Ways to Read an Interviewer Like a Book (Podcast)
NEXT THURSDAY: Stress Free Interviews
Check out last Thursday's posts:
INTERVIEWING: Professional Coyness
INTERVIEWING PODCAST: Bad Interview Questions and Answers
Find Financial Jobs
Find Banking Jobs
Find Customer Service Jobs
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