My specific situation:
I am working in a very commercialized city and I am probably going to be laid off. This was and probably might be my best paid job in my early career, and I will most likely have trouble finding another company who is willing to pay that same amount of money for the same level of expectations from my role. At least for a short while until I get a few more years of experience.
I have looked at other similar commercial or large cities, near me, and the roles are at least $5,000 less in salary than my current role. I could probably barter the offer, but I assume these companies usually make up their minds about the pay for a role, and would immediately reject a candidate if they ever challenged it.
Other than that, I've also considered switching industries, but I either got to accept less pay for work I can enjoy (animation) or better pay for work I'm not very familiar with (coding).