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factors you have to think about first:
/ ~% S9 J& [0 P8 ]3 `how well paid you are at the moment compared to the market norms
" t7 ?" \- G1 L$ F: e% i& fthe rate of inflation# ]$ n6 i. K" F s H0 z# d O
where you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
9 \! H2 |% w' Q2 e# x! h3 u3 Rthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)8 k! a" w$ B7 a+ S; D" b
the company's trading performance (relative to budgeted costs and planned sales and profitability)
" b8 k' h$ S6 Uthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)
* x5 b. ]' \, Ythe company's last company-wide salary review, and the range of % increases awarded
h n* P& N; Y9 B3 sthe company's next company-wide salary review, and the likely range of % increases5 C9 a" H7 q/ O
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)- l/ u/ M& w/ u5 K7 U
how valued you are to your boss and company
- c7 O. g4 ^- a7 A chow easy it would be for them to replace you with someone of similar capability and value at the same or less salary
1 F4 s) x1 D) ?4 Jhow much extra responsibility and/or you are prepared to take on: f- B) {( C9 ]1 C" k6 ^
how much extra effort you are prepared to put into the job and how ambitious you are
7 d9 ?8 _# _8 h7 U) E* ?and, very importantly, what you will do if you don't get a raise or salary increase (ie., how much you want to stay with your present company and how confident you are that you could find a better job elsewhere) |
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