What term describes the ability of individuals with specialized skills to negotiate a higher wage?

The term that describes the ability of individuals with specialized skills to negotiate a higher wage is individual bargaining. This process allows individuals to leverage their unique skills, experiences, and qualifications to negotiate terms of their employment, including salary. In many cases, highly specialized skills are in demand, enabling these individuals to assertively negotiate better compensation packages directly with employers, rather than relying on collective agreements or standardized pay scales.

Collective bargaining, while related, typically involves negotiations between employers and a group of employees represented by unions, aiming to set terms for all employees collectively rather than on an individual basis. Job evaluation refers to the systematic determination of the worth of jobs within an organization to establish fair compensation levels, rather than focusing on individual negotiation. Salary negotiation generally encompasses the broader practice of discussing salary but does not specifically highlight the specialization aspect that individual bargaining emphasizes.