Tuesday, December 9, 2008

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.

It is critical to remember, and you must know your tactical approach to salary negotiating at this challenging time.

Just because the economy is on a slowdown doesn't mean it is a bad time to negotiate salary with your employer. While it is true many companies are reducing staff levels and slowing down production, other companies are in hot pursuit of top skilled employees. Keep this in mind. There are many opportunities to still discuss salary with your boss and to negotiate a higher salary with prospective employers.

By negotiating salary, you are standing up for your rights and standing up for what your believe in. By standing up for yourself you are asserting the value of your skills and setting expectations in the employer that the market will support your salary request. Make sure you've done your market research homework in order to support 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.

These are challenging times, and should you find yourself in danger of losing your job or you have found yourself unexpectedly in the market for a new job, you'll be keenly aware that salary negotiating skills are imperative. The good thing is salary negotiation is still an option in these times.

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.

The best of luck to you in your salary negotiation plan. - 15359

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