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Your performance review is coming up and you want a raise. But the job market isn’t exactly hot right now, so you’re not sure how much leverage you have with your employer.

Asking for a raise is no one’s idea of fun, and it can feel especially nerve-wracking as AI and economic uncertainty trigger more layoffs. At the same time, if you think you have a strong case for higher pay, you want to make it, especially if you’ve taken on new responsibilities, outperformed your peers, or aren’t being paid the going rate for your role.

The good news? Despite the uncertainty, companies see steady growth in salary budgets next year. According to the Conference Board’s annual survey, employers are expecting an average budget increase of 3.4% in 2026. That’s below the peak increases of the post-COVID years, but the same as 2025 and above the 3% pre-pandemic average.

Plus, there’s increasing transparency around pay, making it easier to know how yours compares to others. Over the past few years, laws in California, New York, and eight other states have required employers to include salary ranges when posting open positions. About 53% of monthly U.S. job postings now give a range, up from roughly 15% prior to 2018, according to an analysis by Liberty Street Economics.

(One caveat: Not everyone that’s required to be transparent has embraced the new trend. Liberty Street found that 24% of ads in Colorado, California, Washington and New York City — the earliest jurisdictions to adopt pay transparency — haven’t complied with the laws. And The Wall Street Journal reported in 2022 that some employers in NYC were defeating the purpose by posting a low and high end that differed by hundreds of thousands.)

So what?

If you think you deserve a raise, advocate for yourself and ask for one. But make sure you do your homework first. Research what your role pays at other employers and take the time to prepare talking points (or a brag sheet) that shows your boss why you’re worth it. You’d be surprised by what they may not realize.

Here are some other strategies that can help:

Quantify your accomplishments. Employers are becoming more performance-centric, according to the Conference Board’s survey. So be specific with how you’re advancing the company’s business objectives by quantifying your contributions as much as possible.

Practice what you’ll say. Pay is an awkward topic, and you may be nervous. The more you can script the language you want to use, the better. Maybe even do a little role play with a trusted friend or your partner.

Give some wiggle room. You’re being assertive by asking for a raise. It’s best to balance that by showing that you’re flexible and reasonable. Try sharing a range instead of a single number, suggests Harvard Law School’s Program on Negotiation. For example, instead of asking for a 3% raise, you might suggest a 4%-5% raise. Your manager will appreciate your flexibility if you accept less.

Find a win. It’s possible that you won’t get a raise. That doesn’t mean you can’t walk away with other benefits like a more flexible work schedule or tuition reimbursement. Think about what else would make your job better. If you’ve taken on new responsibilities, should you have a new job title or description? (It could make it easier to make a move when the job market is better.)

Make it count. If you get the raise, use the money wisely. Consider paying down debt, building up your emergency savings, or contributing to your retirement. Here are some other tips for maximizing your raise.

Related Reading

How to Negotiate a Pay Raise (And Actually Get It) (Science of People)

You Won't Get the Raise You Want in One Meeting—Here's How Long It Will Actually Take, According to an Expert Negotiator (CNBC)

How to Ask for a Raise: Avoid These 6 Mistakes That Can Hurt Your Chances (USA Today)

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