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factors you have to think about first:. O9 S K8 D* c
how well paid you are at the moment compared to the market norms
# v/ O. P( c9 N, Bthe rate of inflation t2 q% q: g2 A* W3 k& U# {" ] F
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+ }3 W$ o# d3 a7 j& t( i( u( Q
the company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
1 Q% s& D9 R' J2 s. _the company's trading performance (relative to budgeted costs and planned sales and profitability)
2 w1 R0 F5 ?6 S, lthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)7 t5 x; |1 w# S( v7 _0 k
the company's last company-wide salary review, and the range of % increases awarded
5 @- M; u& s8 h3 f1 tthe company's next company-wide salary review, and the likely range of % increases+ i+ ]# Y4 }1 W
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
) U. n* _" s2 W: k* D9 I$ _how valued you are to your boss and company
! H" H' q0 x9 ?4 J! K b- Phow easy it would be for them to replace you with someone of similar capability and value at the same or less salary
" Q; H! ?( {% L" }: E( whow much extra responsibility and/or you are prepared to take on+ L: e% x4 y" J6 D
how much extra effort you are prepared to put into the job and how ambitious you are
. z; J* y* s% {6 I0 j7 x, }" @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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