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Hey! First of all congratulations on taking this step! What I’ve found helpful is breaking it down by the average salaries for your exact case. Some websites offer salary breakdowns based on company size and years of experience. Then you can either approach with a salary all of what’s average, or over the average based on your skill set and demonstrated value in the company.
I did this for an adhoc mid year raise and it worked :)
I wouldn’t advise cost of living as a factor to negotiate with; that’s all about what you want/need, not about the value you produce or what rhe company would pay to replace you
It’s the equivalent of you pitching to a user ‘we worked very hard and want to make a profit so please pay for this product’…they dont care! Think about THEIR perspective and THEIR alternatives.
‘Her first 100k’ is a great resource on salary negotiation