Lets say you’re happy at your current company, but feel that the market rate for your skills has increased over the past year. Maybe that’s partially due to 7 – 8% YoY inflation, which seems like a valid concern when discussing cost of living adjustments. But I’ve seen several people say citing inflation is a bad strategy, since it doesn’t say anything about your contributions.
The conventional wisdom is to demonstrate your value to your company, Which I suppose is always valid. But over my career, I’ve had mixed results with trying to translate various accomplishments and achievements into dollar values for the company. It’s usually “Good job, and we hear, you, but there’s no budget.”
But given then current worker shortage, I wonder if that dynamic has been flipped somewhat. That a large part of your current “value” is your very presence in the position. And if they don’t recognize your value then it’s their loss, and replacing you will turn into their headache.
Personally, I’ve been contacted for a few jobs which pay between 10 and 20% more. I’m wondering if the best negotiating tactic is simply sharing my newfound market research, and telling them I have no desire to leave but will be forced to listen to these opportunities if the gap in compensation remains so large. For context, I am in the middle portion of my career which requires skills and experience specific to our field.