In a job market where you may feel lucky to get a job offer, you may also be tempted to take what you can get in terms of an employment package. However, you don't have to settle for the first offer just because of the recession.
Instead, consider that employers need great talent despite the economic climate and that they expect you to advocate for the best employment package possible.
So how do you negotiate a job offer in a recession?
Know when to start
Negotiations always begin after you get an offer. There are no exceptions to this rule. Let them see the value you bring in each interaction. Create the list of what matters to you, and prioritize the must have's and the nice to have's.
Preparation is critical
Do your homework. When you see a position of interest, research a fair market price for your skill sets. You can do this by querying your network (using Linkedin, Jigsaw and others) to determine what the industry standard is based on your discipline and level of experience. You can also use your network to determine whether the company has been known to make competitive offers or not.
What do they want? During the interview process, listen to what the company's most critical needs are and trade your relevant expertise for what you want.
Think broadly. Salary and vacation are two components most candidates focus on, but you can also negotiate things like your title, percentage of travel time, cost of health benefits, commuting subsidies and the option to telecommute.
Prioritize. Decide what you really want and focus on it, be willing to be creative, and find a middle ground.
Be realistic. It's okay to ask for more, but don't go overboard. Ask for what you think is fair based on your experience and the complexity of the position.
Negotiation is a natural part of the hiring process, so be positive, professional and focused – not only on what you want, but also on the talents you will bring to their organization in return.
Elaine Varelas is a managing partner at Keystone Partners, a career management firm in Boston.
