Tuesday, January 27, 2009

Negotiating Your Salary During Recessionary Times

By Trevor Davide Grant

While it is well known that the American economy is in the middle of a financial downturn, and that economic slowdown is having an effect in trading partners, recent studies have shown that with many employers there is still room for negotiating your salary.

This is important to be aware of, and you ought to know your strategy to approaching salary negotiation at this difficult economic time.

Don't shy away from salary negotiation if it is the right time for you. While many companies are slowing down or reducing staff levels, other companies are in need of top talent. You should keep this in mind. There is still an opportunity to discuss salary with your employer, or to negotiate your salary offer with new employers.

When you negotiate a salary, you are standing up for what you believe you are worth. You are standing up for yourself because your skills and the job market will support the price you are asking. You really need to do your diligent research to assess this.

Be tactful in the salary negotiation approach you use. Employers will respect the fact that you've approached them with a less intensive approach. It is not the time to play the tough guy when it comes to salary negotiation, unless you are one of the few elite staff that can achieve top dollar increases in this challenging economic time.

Nonetheless, salary negotiating is still an option. Not just that, but also if you find yourself in between jobs, an unfortunate circumstance indeed, salary negotiation strategies and tactics are of absolute importance.

Remember, don't dismiss the notion of negotiating your salary just because the economy is on the edge of a recession. On the contrary, look for the most suitable approach, do some market research and build your supportive case.

To your total salary negotiation success!

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