Key Takeaways:
- Only 31% of job seekers negotiated their offers recently, down from 49% last year, as companies increasingly present offers as “best and final.”
- Even when salaries are nonnegotiable, candidates can often secure other benefits, such as signing bonuses, flexible schedules, or better titles.
- Fear of souring relationships or appearing ungrateful holds many back from negotiating, but polite and reasonable counteroffers are rarely met with hostility.
- Negotiation strategies include setting a personal minimum, asking about non-salary benefits, and being prepared to walk away if necessary.
What Happened?
As the labor market cools, fewer job seekers are negotiating their offers, with many accepting “best and final” offers at face value. Companies like Coinbase have adopted rigid salary policies, claiming fairness and competitiveness, while others use the tactic to avoid prolonged negotiations.
However, savvy candidates are finding ways to negotiate beyond base pay. For example, some secure signing bonuses, remote work flexibility, or professional development opportunities. Others accept offers with agreements to revisit compensation after proving their value.
Experts emphasize that even in a challenging job market, candidates should advocate for their priorities. For instance, HR executive Cynthia Thorpe successfully negotiated a better title, occasional remote flexibility, and the opportunity to help design a bonus plan.
Why It Matters?
Negotiating a job offer can lead to significant improvements in compensation and work-life balance, even when salaries are fixed. Candidates who negotiate often secure benefits that enhance their overall job satisfaction and career trajectory.
Despite this, many job seekers hesitate to negotiate due to fear of damaging relationships or losing the offer altogether. This hesitation disproportionately affects women, who are less likely to negotiate than men, according to research.
Employers, meanwhile, are increasingly constrained by internal pay equity policies, but they remain open to offering non-salary perks to attract top talent. Understanding these dynamics can empower job seekers to negotiate effectively without jeopardizing their opportunities.
What’s Next?
Job seekers should approach negotiations with a clear understanding of their priorities and a willingness to ask for what matters most. Strategies include:
- Setting a personal minimum for salary or benefits.
- Asking open-ended questions about negotiable aspects of the offer.
- Proposing reasonable, specific requests, such as additional vacation days or remote work flexibility.
Employers are likely to continue presenting offers as “best and final,” but candidates who negotiate tactfully can often secure better terms. As the labor market evolves, both job seekers and hiring managers will need to adapt to these changing dynamics.
