What is really necessary?

Project consulting seems to run parallel to the Real Estate industry with regard to the condition of the economy determining the slant of the market.

When the economy is great, business is going gangbusters, and there exists a Seller’s Market for Project Consultants. You can hold out for the absolutely best project, the best pay, the best benefits package, the best perks – and there may even be a bidding war for consultants with exceptionally hot amenities.

At the other end of the spectrum – as many of you are painfully aware – is our current market, a Buyer’s Market. In this scenario it is the hiring manager who has the power, who can hold out – for a 99 44/100% match to the job order, for a consultant who is prepared to accept a substantial reduction in rate, for a consultant who matches the personality of the team, and (sadly) a consultant who looks the part. A Buyer’s Market does not allow for the gluttony of a Seller’s Market.

Today we are in a Buyer’s Market – them’s the facts. And this Buyer’s Market, based on historical data, will continue far into verifiable recovery.

If you are seeking a new assignment during this Buyer’s Market, you may be well-served to determine which of your standard Seller’s Market expectations are really necessary to you today. And adjust your negotiations accordingly.

No comments: