Navigating a low salary offer for Business Manager role after 9 years at the company

I recently applied for a Business Manager role at my company, where I've been working for 9 years. After going through the interview process, I received my offer letter, but I was shocked to find that the salary offered was significantly lower than what I'm currently making. In fact, after talking to others in the same role, it seems that no one else has faced such a drastic pay cut. This situation feels quite insulting, especially since a friend of mine who joined from outside the company was offered a higher salary than what I've been given. I was really excited about this opportunity, but now I'm feeling broken and uncomfortable about accepting this offer. I'm seeking advice on negotiating a counter offer and what others' experiences have been with this process. What are the chances of successfully negotiating a better salary?

Job title: Business Manager

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