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factors you have to think about first:+ X0 V) f, m4 T* Q
how well paid you are at the moment compared to the market norms
' c# r. _ v" O& `the rate of inflation
, [9 h3 u& a6 D% Zwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
/ N: d# _8 K$ Q, R+ pthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)( x1 x- L4 a( N9 t" S& I
the company's trading performance (relative to budgeted costs and planned sales and profitability)
: `' f0 j) J- J" V! e- Dthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)
$ ]3 Z9 y- e, y3 mthe company's last company-wide salary review, and the range of % increases awarded6 Y, o/ ]9 M1 L. M. u. \$ p
the company's next company-wide salary review, and the likely range of % increases
- O! B% I0 B& k' _what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
: P5 E: {$ h% `) s& b* Thow valued you are to your boss and company9 m5 Y7 j) n. J; ]1 \
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary% D+ d+ K% N7 u6 g6 \4 _: P
how much extra responsibility and/or you are prepared to take on3 r4 d' l, |! L
how much extra effort you are prepared to put into the job and how ambitious you are
8 z* c& D v8 zand, 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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