Longman Dictionary of Contemporary English homepage

bargaining

 noun
     
bar‧gain‧ing [uncountable]
1 discussion in order to reach an agreement about a sale, contract etc [= negotiation]
wage/pay bargaining
The government would not intervene in private-sector wage bargaining.
The 4% pay raise was the result of some hard bargaining.
2

bargaining position/power

the amount of influence someone has and their ability to achieve what they want when starting a discussion or making an agreement
Most new artists and bands aren't in a strong bargaining position.
This will increase the bargaining power of management in wage negotiations.
Definition from the Longman Dictionary of Contemporary English
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