Report: Economy Is Weakening Job
Candidates' Bargaining Power
According to a new report, the current state of the
U.S. economy is "casting a shadow on the psyches of job candidates," as they
have become less aggressive when it comes to bargaining for starting salaries
when looking for a new job.
The Jobfox report (the Jobfox Top 25 Most Wanted U.S.
Job Candidates) found that salary expectations for job seekers have "remained
flat or have decreased" since March 2008. This trend was found among all 25 of
the most "in-demand" professions--none of the candidates in these professions
had increasing median salary range expectations. Candidates from nine of these
professions had decreased salary expectations (at some point since March) and
the remaining 16 professions remained flat in terms of job seeker salary
expectations, according to Jobfox.
"It's an employer's market right when it comes to
salaries," Jobfox CEO Rob McGovern said in a press release. "Companies are
concerned about budgets and corporate bottom-line challenges have rubbed off on
job seekers' salary negotiations."
Jobfox noted that job seekers must contend with the
fact that employers are "feeling the pain" of the economy. Furthermore,
employers are increasingly making use of cost-control strategies, including a
"greater reliance on bonus programs and other pay-for-performance compensation