4 Ways To Ask for a Raise in an Economic Downturn
Written by
John Schmoll
Edited by
Zuri Anderson
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Ask any jobseeker, and most will tell you the same thing: The job market is rough. It’s no surprise, as 2025 was the softest year in the market since the pandemic, according to PBS.
The new Career Trade-Offs Report from Zety reveals that Americans continue to face challenging career trade-offs just to get by. According to its report, Zety found the following:
- 66% of workers avoided asking for raises because of tariffs or other external factors.
- 41% of workers haven’t received a meaningful raise in over two years.
- 45% of workers believe they deserve a 4% to 6% raise in 2026.
- 61% of workers are willing to accept a smaller raise due to job security fears.
- Only 37% of workers compare their salaries to those of others in a similar role, and 32% believe they’re undercompensated relative to their peers.
Asking for a raise in a tough job market can feel difficult, but receiving a pay bump is achievable. Here are four ways to ask for a raise wisely.
Ask After You Deliver a Win
It’s understandable to wait until a performance review to request a raise. That’s your time to highlight achievements, areas of growth and new opportunities.
Unfortunately, waiting until performance review season is largely a backward-looking exercise. Rather than waiting, position your request after delivering quantifiable value to the company.
“Bringing up compensation shortly after you’ve delivered measurable impact helps connect the request to real-time value, rather than past performance,” said Jasmine Escalera, PhD, career expert at Zety.
If your request isn’t successful at first, don’t give up. You may still receive a raise in time.
“Even if your company only adjusts pay at certain times of the year, starting the conversation early helps get your contributions on your manager’s radar and makes it more likely they’ll be factored into future compensation decisions,” added Escalera.
Wisely Frame Your Request
Thoughtfulness is traditionally a wise approach when requesting a raise. Fear is an understandable emotion, especially if your firm has gone through layoffs or has a hiring freeze. Don’t let this apprehension lead to inaction; use it to position your ask, as your boss is also aware of the current challenges.
“An employee can start by acknowledging what the company is navigating and showing awareness of existing constraints,” noted Escalera. “Framing the conversation this way helps open a discussion around what is possible, even if a raise isn’t feasible right away.”
Even if your ask doesn’t immediately result in a raise, that doesn’t mean nothing will occur. It’s possible you may receive a one-time bonus or clarity when an increase will occur.
Ground Your Ask in Data
Information is vital when asking for a raise. Grounding a request with information may increase the chances of success. You can back your data in one of two ways: After delivering value to your business, or how your salary compares to those of others in similar roles. The latter directly shows where you stand versus current market rates.
“Market research includes having conversations with people in your network about salary, which can feel uncomfortable for many professionals but is incredibly valuable,” Escalera said. “These conversations help you develop a realistic understanding of what others earn in your field and give you a stronger, more informed case when discussing salary adjustments or raises with your company.”
Begin by using resources like Glassdoor or by asking peers you know in similar roles to identify current rates. Use the information you find when asking your boss for a raise.
Emphasize Your Expanded Responsibilities
It’s natural for employers to reward workers who deliver value to the company. Value can come from cost reductions you deliver to taking on additional responsibilities outside of your traditional role. In times like that, requesting a raise is advisable.
“Outcomes, revenue impact, cost savings, risk reduction, and workload expansion all matter, especially when they’re clearly tied to what the organization values most right now,” Escalera added.
Furthermore, teams impacted by layoffs may be less inclined to lose someone who is taking on more at work, making your request more justifiable, according to AP News. Make sure to continuously track your expanded roles and the outcomes so you can be ready to ask when you want, rather than waiting until review season.
Requesting a raise in the current job market can feel daunting. Make sure to anchor your ask in data and the value you deliver to the firm to increase the likelihood of success.
More From GOBankingRates
