All cost of living aint equal. Don’t we know it! This week a listener runs into a familiar problem: It’s a great job opportunity, but it’s not located in my current city of residence. How do I adjust for the cost of living changes?
Well, there isn’t an exact science to this question, but we discuss how the use of three reliable cost of living calculators (CNNMoney, Salary.com, BankRate) can help our listener determine the best estimate for their estimated cost of living adjustment. Tune in to hear: is a 30% pay increase ever too much?
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I currently live in a part of the country where the cost of living is pretty moderate. I’m talking with an employer in CA about a job out there. I know the hiring manager personally, and he/she is great. The job itself is also a great opportunity.
The problem is, considering the 10% pay increase I’ll be getting at my current job for 2017 and the increase in housing costs alone i’d see while moving from here to CA, I’d need a 25% increase in comp, just to break even. So I would probably want to ask for a 30% increase , with the intent of accepting at 25% if they push back.
I think the reasoning above makes sense, but is it reasonable to request a 30% (or even 25%) increase at the new company? I don’t want to start salary negotiations off on the wrong foot by going in there with a number that will turn off the employer.
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