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100% the job market directly influences your leverage. There’s a reason we call them employee markets or an employer market. It’s easier to negotiate when you have multiple offers/ suitors each willing to pay more. Usually in tough markets you’ll only have 1 or 2 offers. You also have to deal with there being more people looking for jobs than jobs available.
All this is general advice but the caveat is if your skill set is specialized or extremely in demand overriding the overall market. For example if you’re a leading voice in AI, etc.
Never thought of it in that way before. Thank you!
Subject Expert
I am sure there are some Recruiters and HMs who are taking advantage of the current crappy job market to make lowball offers new hires.
There have been a lot of posts on this site by people who've been forced to accept lower salaries because they've been out of work for so long. If you don't have another option, or confidence that another option is available, then "any port in a storm".
Yeah, I think there are some “not so good” recruiters and companies out there. It’s sad to see that some people worked so hard but just have to accept low balled offers due to the economy. I’m one of those who doesn’t have much experience negotiating, so I’m afraid I’ll accept low balled offers.
Mentor
When there is a shortage of qualified candidates, the enployer has less control over salary negotiations than times when there is an abundance of candidates.
Right now, there is a lot of people looking for work. This is suppressing wages.
That’s probably true.
The implied “threat” in any salary negotiation is that the employee quits and goes somewhere else if their demands aren’t met.
If it’s easy to find a new job, the employee will have stronger leverage. There’s a reason that labor scarcity drives up wages, even if you don’t job hop.
True. I see it that way. It’s always a risk.
Yes the job market does have an effect. Anything pricing-related is impacted by demand and supply. How much a company wants you or how many companies (demand) vs the candidate pool (supply)
Yes.
If we only have 2 potential good candidates for a role that we need filled, they have the power to demand more of us and we pretty much have to give it to them.
If we have 100 potential good candidates, one of them will absolutely take the offer and we can play the odds.