4 Steps Toward Getting That Raise Before It's Too Late
How should you go about asking for a raise, even as the job market continues cooling?
Simply getting up the nerve to ask can be tough. In a survey by JobHire.ai, 71% of workers think they might get laid off in 2026. Over half (54%) say they're "very worried." When the axe is being sharpened, nobody wants to stick their neck out as costing the budget more than their collegues do.
The rise of artificial intelligence has raised the jitters as well. Six in 10 workers expect AI to eliminate more jobs than it creates in 2026, according to Resume Now. Meanwhile, high inflation and stagnant salaries have left many workers pinched. So what's a hard-working employee trying to get their worth to do?
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1. Open With Your Value
Too many employees approach their boss from a place of "My rent has gone up, so I want you to pay me more." Your boss may or may not sympathize, but your rising rent is your problem, not theirs.
Instead, reframe the conversation in company-centric terms. "The key is to open the conversation by outlining the value you bring to your company," said Lauren Mastroni, career expert at Resume Genius.
Create a "brag sheet" that highlights your achievements and recent wins. That includes revenue you generated, time you saved by improving work processes or new responsibilities you took on. "Having this information on hand can help you guide the conversation from a personal request to a business case based on results."
2. Explore Perks Other Than Pay
Before approaching your boss, prioritize what you want most from them. That could simply be higher pay, but it could also mean hybrid or fully remote work or more matching contributions to your 401(k) or better health insurance benefits or the ability to set your own hours.
Ask for what you want most first. If that fails, fall back to another request. Sam DeMase at ZipRecruiter put it simply: "If a raise isn't on the table, ask for flexible work, a spot bonus or professional development funds."
3. Timing Matters
You wouldn't ask your spouse for a favor right after a blowup fight. Likewise, get strategic about when you approach your boss.
"Try to do it when your value is most visible: after a major project success or during performance reviews," said Mastroni. "Avoid raising the topic right after layoffs or budget cuts. When you do make your case, set a collaborative tone like 'Given the results I've delivered and the responsibilities I've taken on, I'd love to revisit my compensation to reflect that.'"
4. Lay the Foundation for Future Raises
If your employer can't or won't pay you more right now, lay the groundwork for a future raise.
Start by learning as much as you can about the company's plans to grow or innovate. Then explore ways you can help lead that charge.
"Aim to take on high impact, high visibility work and track your accomplishments," said Heather Maietta, career coach at Career in Progress. "Explicitly discuss your desire to advance. A pitch might sound like 'I've been thinking about my growth at ABC Company and would like to position myself for XYZ role. What do I need to do in the next three months for that to happen?'"
Sometimes you have to play the long game to score your dream promotion. Just don't confuse complacency and patience, as you position yourself for a new role.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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