How does a Cost of Living Index help with salary negotiation?
Whether you’re starting a new job or negotiating a raise, researching cost of living data can help to ensure that you are earning a fair salary. For example, imagine that you are relocating to New York City. You already have a job offer, but you want to find out how much you will need to earn in order to maintain your current standard of living. The salary for your position may be higher in New York, but how much will you be able to save given the city’s high cost of housing? This is where the cost of living index comes into play. Getting a cost of living comparison between cities will give you an idea of how much you need to earn in order to cover all of your expenses. And knowing your bottom line will give you confidence when it comes time to negotiate.
