Can you actually negotiate a “best and final” offer in this market?

WSJ recently addressed whether candidates can actually negotiate offers described as “best and final.” The answer is surprisingly yes, even in this market where the employer holds the power.

What’s the state of the market? Fewer people are negotiating offers now. ZipRecruiter reported 31% of recent job changers negotiated their offers this past quarter, down from 49% last year fourth quarter. More companies are presenting “best and final” offers to avoid protracted negotiations, whereas in the past companies entirely expected a couple rounds.

How can you successfully negotiate an offer deemed “best and final”?

• Ask what can move. I’ve seen sign-on bonuses as a way for companies to entice a candidate they want to close when they can’t change base compensation due to internal equity, for example.
• Consider using this suggested language from an executive of a recruiting company: “I’m very excited about coming to work for you, and I’m already thinking about how to become successful as a part of this team. As it relates to the offer, are there any aspects outside of the compensation that are negotiable?” I like that this ask is undemanding and signals strong interest (although I’d replace the word “negotiable” with something like “are flexible” to avoid triggering an employer who just told you the offer is non-negotiable). Otherwise if a candidate aggressively asks for changes to a supposedly nonnegotiable offer, I can imagine the company moving on to their next candidate.
• Sometimes employers allow changes to title. My advice for lawyers is to try for a “Head of” title (e.g., Head of Legal if you can’t get GC, or Head of [a specific area like commercial, litigation, etc.]), or adding a “Director” or “Senior Director” if the internal legal title sounds unimpressive.
• Try asking for flexibility with office policies, e.g., the ability to work remotely certain times of the year.
• Find out more about professional development and see if you can get any movement there. One recruiter who works with companies like Wells Fargo and John Deere says employers will consider things like “an extra week of vacation to a professional-development plan that can pave the way to an eventual promotion and higher earnings.”
• Ask (nicely) for details about the bonus structure and see what you can do, e.g., if you can tie results to a bonus. The article cited a candidate who “asked about bonus potential. She was told the company hadn’t offered bonuses in the past but wanted to develop an incentive plan for executives, and she could help create it.”

The takeaway: show that you are interested and a good fit, research what is possible, and make a gentle ask.