OPINION:Some think they can use a fancy title to make up for a good old-fashioned salary rise, writes Virginia Matthews

JAMES RADFORD believes that swapping a pay rise for a stronger power base could pay dividends in the current climate: "I think it's vital to get the right title on your card, not more cash, if you want to play the long career game."

Mr Radford last year became head of customer services and operations at HBOS Corporate Banking, via an 18-year career in a range of sales, planning and director roles at financial giants American Express and Citigroup.

"I've deliberately traded a salary increase for a better title a couple of times as I've moved from sales to operations, and I've also taken a better title simply to get my ticket out of one role, or firm, in favour of a better one," he said. "If I hadn't done the odd sideways move, I probably wouldn't even have a sniff at one of the trio of genuinely senior roles."

The practice of "uptitling" comes into its own in a downturn. Some managers think they can use the carrot of a fancy title to make up for the lack of a good old-fashioned salary rise. But can they?

Simon Russell, a partner at the head-hunting firm Spencer Stuart, does not think so.

"If my employer told me that, because times were hard, I'd get a fancy job title but no extra cash, I'd be insulted, particularly at a time when titular inflation" - by which he means the outbreak of vice-presidents and general managers - "is running riot".

He believes a trumped-up title will not mean very much in changing economic conditions. "I'd far rather they sat me down and had an honest conversation with me about my long-term career than try and fob me off with a vice-presidency."

Elsewhere, the prevailing view is that now is not the time for either ego or greed.

Staff at KPMG, the leading accountancy firm, who are looking to earn brownie points during the recession should prepare themselves for a series of hard lessons in loyalty and perhaps even household budgeting.

"We expect our people to be flexible over their job role, their hours and their place of work and to learn new skills if necessary," says Dave Conder, UK head of people at KPMG.

"Some will be forced to abandon pet projects, others will take on new ones and may be given new titles at the same time.

"And no, there won't necessarily be any more money in the pot for doing so, because that's simply how it goes in a recession."

Having the title of vice-president or general manager on your business card can mean everything or nothing, depending on your sector and the size of your company.

That is why Stevan Rolls, director of human resources at Deloitte, thinks that nothing talks quite like hard cash.

"I've always looked for more money rather than a better title. If that sounds shallow, I think it's probably less so than worrying more about what you're called than what you're paid," he says.

Before you decide whether to pursue money or title, consider the view of Norman Burden at the management consultancy True North Human Capital - an individual so persuaded by the significance of titles that he has given himself two of the best: managing partner and chief executive.

Burden says: "Most research into this subject suggests that, while the average member of staff will always put the cash first, senior managers know that job titles are far more of a long-term bargaining chip for career advancement and will use each successive one to support their climb to the top."

At a time when power has shifted from employee to employer, he believes that the first priority is to keep your current job and, where possible, salary. "Our indications are that the people who will continue to grow their career during a downturn will be flexible and adaptable in terms of job title and salary and will put strengthening their curriculum vitae and filling any gaps well above receiving more money . . . Now is very much the time for bartering." - ( Financial TimesService)

Lucy Kellaway's column will resume on December 8th