As a strong performer you'll generally do much better if you negotiate based on market rates.
How much more would you get paid by another employer?
How much more would your current employer have to pay to backfill your role?
If you want to signal loyalty, phrase it as "I really like what I'm doing here but it's distracting to know that I may be giving up a XX%-YY% pay difference"
If your employer can actually fill your position without paying 20+% more or losing several months of ramp up, maybe you are being paid well regardless of the year over year CPI.
How much more would you get paid by another employer? How much more would your current employer have to pay to backfill your role?
If you want to signal loyalty, phrase it as "I really like what I'm doing here but it's distracting to know that I may be giving up a XX%-YY% pay difference"
If your employer can actually fill your position without paying 20+% more or losing several months of ramp up, maybe you are being paid well regardless of the year over year CPI.