Let’s be honest—asking for more money can feel intimidating in any job market. But when things start cooling off—when job listings shrink and layoffs make headlines—negotiating a raise might feel completely out of reach.
I used to think the same. During one review season, I hesitated for weeks before setting up a meeting with my manager. The market felt shaky, hiring had slowed, and I wasn’t sure if it was even appropriate to bring up salary. But I did—and I learned that the key to navigating tough job climates isn’t silence. It’s strategy.
In this guide, I’m breaking down how you can still negotiate smart, fair compensation even when the economic winds aren’t blowing in your favor. It’s not just possible—it’s empowering.
What a “Cooling” Job Market Really Means
First things first: what are we dealing with here?
1. The Signs of a Slower Market
In simple terms, a cooling job market means hiring is slowing down. Companies may be more cautious with their budgets, layoffs might increase, and competition for open roles gets stiffer.
But that doesn’t mean you should stop advocating for yourself. Far from it. Companies still need great people—they’re just watching every dollar more carefully. That’s why your ask needs to be thoughtful, well-timed, and backed by proof.
2. Why It’s Still Worth Negotiating
Even in conservative job markets, businesses invest in value. If you can clearly communicate your impact, they’re more likely to see a salary adjustment as a smart move, not an expense. That’s where your prep work becomes your secret weapon.
Do Your Homework (and Bring Receipts)
If there’s one thing I’ve learned from years of salary talks, it’s this: walking into a negotiation without research is like hiking without a map. You might survive it—but you’ll probably get lost along the way.
1. Know Your Market Value
Start by checking platforms like:
Compare roles similar to yours in your city or industry. Take into account your experience, unique skill set, certifications, and job function.
2. Know Your Wins
Before I ask for anything, I build a “brag book” of recent wins:
- Projects I led or improved
- Goals I exceeded
- Stats that prove impact (e.g., “Reduced churn by 22%”)
When you walk into the room with specifics, it’s no longer a question of “Do I deserve more?” It becomes “Here’s the value I bring. Let’s discuss how to reflect that fairly.”
Timing Is a Game-Changer
The difference between a “maybe” and a “yes” often comes down to when you make the ask.
1. Ride the Momentum of Success
The best time to bring up pay? Right after a big win. Finished a major project? Got great client feedback? Helped your team hit a tough target? That’s your moment.
2. Avoid Budget Crunch Periods
Every company has budget cycles. If you know when your team finalizes salaries or department budgets, try to get your conversation in before those are locked in.
3. Consider the Company’s Health
If your company just landed a major client, announced growth, or hit quarterly goals—great. If they’re in the middle of cost-cutting measures, however, focus on positioning yourself for later rather than pressing now.
Make the Conversation Collaborative, Not Confrontational
No one likes being surprised or pressured—especially in work settings. Think of this conversation less as a demand, and more as a mutual evaluation of your role, growth, and compensation.
1. Lead With Gratitude
Start by thanking your manager for their support and the opportunities you’ve had. It sets a respectful tone and opens up space for dialogue.
2. Be Clear and Calm
Here’s a script I’ve used before:
“Over the past year, I’ve taken on [X responsibility], contributed to [Y result], and helped drive [Z outcome]. Based on market data and these accomplishments, I’d like to discuss a salary adjustment to [$X range]. Is now a good time to have that conversation?”
It’s confident, informed, and opens the door for honest feedback.
3. Stay Professional, Even if It’s a “No”
Not every negotiation ends with a yes—and that’s okay. You can still walk away with next steps and a plan to revisit in the future (more on that soon).
Think Beyond the Base Salary
If a raise isn’t possible right now, don’t walk away empty-handed. In one of my negotiations, when the budget was frozen, I negotiated for something even better—paid attendance at a national industry conference that advanced my career in ways a $2K raise couldn’t.
1. Alternate Wins That Still Add Value
Ask about:
- Performance bonuses
- Additional paid time off
- Flexible working arrangements
- Education stipends or conference passes
- Equity or profit sharing (for startups)
When you broaden the conversation, you show that you’re not just focused on cash—you’re focused on long-term growth, which benefits both you and the company.
What To Do When You Hear “Not Yet”
No one likes rejection, but in salary negotiations, a “no” can be a “not right now”—if you handle it well.
1. Ask for Feedback
I once asked, “What can I focus on in the next quarter to revisit this discussion successfully?” That simple question gave me clear goals, and when I hit them, I had the perfect reason to circle back.
2. Set a Timeline
If the company says no, try to schedule a follow-up for 3–6 months down the line—especially if you’re in a review cycle or growing into a new role.
3. Keep Building Your Case
Rejection isn’t personal—it’s tactical. Use that time to sharpen your skills, take on stretch projects, or seek certifications that strengthen your resume and your argument.
Confidence: The Secret Ingredient
The first time I negotiated salary, I second-guessed everything. I worried I’d come across as greedy or difficult. But what I’ve realized is this: confidence is not arrogance. It’s simply knowing your worth and choosing to advocate for it with clarity and respect.
1. Practice Aloud
Rehearse your pitch with a friend or in front of the mirror. It’ll sound smoother and feel less intimidating when the real moment comes.
2. Reframe the Narrative
You’re not begging—you’re making a business case. You’ve brought value, and you’re proposing a fair exchange. That mindset shift changes everything.
Network Like It’s Part of Your Job (Because It Is)
Your network is a goldmine of insights, encouragement, and opportunities. Tap into it before and after negotiations.
1. Get the Real Scoop
Peers and mentors can give you the actual salary ranges for similar roles—often more accurate than online calculators.
2. Find Support and Encouragement
Whether it’s a group chat, a Slack community, or a weekly coffee catch-up, having people to talk with about job goals keeps you accountable and grounded.
3. Pay It Forward
Once you’ve been through the process, offer advice to others. It reinforces what you’ve learned and strengthens your leadership presence.
The Money Loop!
- Start the Cycle: Recognize and articulate your worth—every career highlight is a foundation for negotiation.
- Learn as You Loop: Each negotiation teaches new strategies. Treat feedback as a learning guide, not a knockdown.
- Share the Momentum: Celebrate small wins and discuss strategies with peers. Your experience can empower colleagues in their own negotiations.
- Reinvest in Knowledge: Use salary gains or alternative compensations for learning. Courses and certifications can propel your market value.
- Expand Your Circle: Build a network of supportive peers and mentors. Collective wisdom offers broader perspectives and strengthens negotiation tactics.
- Loop Forward: As you achieve more, mentor others in negotiation tactics. This collaboration uplifts the whole community, making each loop stronger.
Ask Boldly, Grow Confidently
The job market might be shifting, but your value isn’t. Negotiating your salary isn’t just about the dollars—it’s about setting a standard for how you expect to be treated, compensated, and supported in your career.
Whether you’re walking into a performance review or starting a new role, carry this with you: you’ve done the work, you bring the results, and you have every right to ask for compensation that reflects that.
So go ahead—speak up. Your next big opportunity might be one question away.
