Discover how to navigate the challenging job market and negotiate your salary with confidence. With expert insights and practical tips, learn how to advocate for your worth in today's economy.
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It’s no secret: Landing a job in today’s economy can feel overwhelmingly difficult. Qualified candidates regularly apply to hundreds—sometimes even thousands—of positions before receiving that one coveted offer. In fact, over half of unemployed job seekers have been searching for four months or longer, highlighting how competitive the market has become.
And it’s not just the job market itself that’s challenging. We’re living through one of the most turbulent periods in modern history:
University degrees are no longer a guarantee of success. Even government jobs, once considered safe, are under threat. It’s no wonder many job seekers feel anxious or fearful about asking for more.
Negotiation expert and career coach Ted Leonhardt notes that the fear of asking for higher pay has always been an obstacle. And in today’s volatile environment, that fear can feel even more paralyzing. But he emphasizes: Workers at any level are more vulnerable today than any time in memory, perhaps since the Great Depression. This makes knowing your worth and advocating for yourself all the more essential.
Here are six essential tips for confidently negotiating your salary in today’s tough economy.
A Pew Research Center survey found that most U.S. workers did not ask for higher pay the last time they were hired, with men slightly more likely than women to negotiate (32% vs. 28%).
Even if you’re surviving on ramen and desperately need the job, don’t let it show. Employers often interpret eagerness as desperation, leading to lower initial offers. Take your time to respond—usually 24 to 48 hours—and subtly indicate you’re considering multiple opportunities. This helps maintain your negotiating power.Leonhard further advises: “Always be developing a new opportunity for yourself. A side gig. A better job elsewhere.” Having other options in progress or appearing to can drastically reduce that sense of desperation.
Before negotiating, gather salary benchmarks from sites like Glassdoor, Payscale, and LinkedIn Salary. Present clear, data-backed reasons for your requested salary based on your experience, skills, and current market rates.
Leonhardt succinctly puts it: “Know your value and use it as leverage. Leverage is always your superpower.” Staying true to your worth can provide dividends. Annie Papp, executive vice president at Career Group Companies, advises that: “In any job market, applicants should be prepared to come right out and ask for a raise or negotiate higher compensation. While it may seem obvious, most people don’t do this, assuming their employer will offer a raise without prompting—which is rarely the case.”
Make a detailed list of your accomplishments and quantify your impact whenever possible. For example: “Increased sales by 300% within one year” or “Managed projects that increased revenue by $X amount.” Even before the negotiation, review this to remind yourself of your accomplishments and the value you bring, boosting your confidence.
If the job offer isn’t quite where you want it to be, focus on creating a clear path to get there over the next year. Jason Giagrande, CEO of Hospitality Farm, suggests: “Bet on yourself. Propose a lucrative bonus structure with aggressive milestones or KPIs that your boss would be happy to pay if accomplished. Everyone wins, and it will motivate your growth individually as well as help your company grow.” Not only does this show initiative, but it also aligns your compensation with company goals, making it easier for employers to say yes.
One key to negotiation success is the willingness to walk away. Listen carefully, remain composed, and always take time to consider the offer before responding.
If salary negotiations stall, consider other forms of compensation. Diversify your requests to reach a deal that satisfies both sides. Signing bonuses, professional development funds, flexible work arrangements, or extra vacation days can all hold significant value.“This market is different because employers are being more cautious when it comes to hiring and budgeting. A few years ago, on the heels of the pandemic, applicants could negotiate higher salaries much more easily because every employer was in a desperate race to retain talent. Now, that’s not the case. The frenzy has slowed, and employers are taking their time.”
While inflated salary increases may no longer be the norm, advocating for growth is still crucial. “Losing strong talent can ultimately have a far greater cost than providing a reasonable raise,” Papp says. If higher compensation isn’t immediately feasible, ask for a timeline to revisit the conversation.
Finally, Leonhardt offers a lasting piece of advice: “Always be developing your connections and community both online and off. Connections with those you help are always the best opportunity for your continuously evolving future.”
Negotiation can feel intimidating, especially in a fragile, uncertain world. But by advocating for yourself thoughtfully and strategically, you’re not just setting yourself up for immediate success—you’re safeguarding your long-term career stability.
