In this episode of The Compensation Podcast, Lucas and Luna dig into a corner of pay transparency that most conversations skip: the performance review. With salary bands now public in many states and pay data shared across job boards, the annual review has become a negotiation artifact. They explore how a single performance rating can shift your total comp by thousands, why managers are suddenly more careful with written feedback, and how the 'calibration' meeting changes when everyone knows the pay range. Lucas walks through a real scenario from a mid-size tech firm in Austin where pay transparency turned a routine review cycle into a public reckoning. Luna brings a study showing that pay transparency reduces gender gaps in performance ratings, but only when managers are trained. They also discuss practical moves: when to ask for a band adjustment, how to document impact before the review, and why your peer comparisons matter less than your manager's calibration narrative. If you have a performance review coming up, this episode gives you a concrete playbook. And a gentle note: listener support keeps this show ad-free, so if we've helped you navigate a career decision, consider buying us a coffee at buy me a coffee dot com slash fexingo.