Final answer:
The interaction between a recruiter and a candidate that involves discussing and agreeing upon the terms of employment, such as annual salary and additional benefits, is known as negotiation.
Step-by-step explanation:
The process you have described, where a recruiter and a candidate come to an agreement on an employment offer after discussing terms such as annual salary and benefits like paid vacation, is called negotiation. Negotiation includes confirming start dates, terms of employment, and the salary rate, with the possibility of revisiting the terms after a certain period, such as 6-12 months. It's critical to present your research on the salary range for the position to ensure your counteroffer is informed and reasonable. A well-negotiated contract includes benefits and other compensation that may offset a lower salary. When accepting a job offer, it's essential to review and sign an employment contract that states the responsibilities and rights of both the employer and the employee. According to a survey by Salary.com, individuals who negotiate can potentially see a significant increase in their annual salaries.