When it comes to negotiating your salary during a recession, the possibility of losing out on a job opportunity because of failed salary negotiations is a legitimate concern for job seekers.  Let’s take a look at how job candidates can create win-win situations for both them and their future employer:

1. Before you arrive at the negotiating table know needs and wants. What is your minimum salary requirement? What is your wish list? How much are you willing to sacrifice in salary if offered other benefits?
2. Know the needs and wants of your employer. Are they extremely budget-conscious?  Are they looking for an employee who will stick with them for the long haul? Do they want someone with “extra” skills or experience but don’t want to pay the “extra” money?  Do they have other needs that they have not addressed? Do your research and find out how you will benefit this company in ways that may not be evident in the job description.
3. Know your value. This is not the time to be modest. Job candidates must understand their value and help the employer see how that value can be monetized for their business.
4. Determine in which areas an employer is most flexible.  Are they more willing to give you additional paid vacation time, work-at-home hours or pay extra on some other benefit? Once you determine the areas in which an employer is most flexible, begin asking for concessions on those areas first.
5. Always leave something on the table. Never leave an employer with the feeling that you are trying to “take them to the cleaners.”  Once your negotiations are complete you both should feel that you walked away with a good deal.