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factors you have to think about first:6 w: ^- \8 J* R
how well paid you are at the moment compared to the market norms
; n9 |! G, `6 X* j, @! w+ jthe rate of inflation3 X; u! Q. r! `* F! r1 w
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' c5 D7 V& l5 h9 Q2 `3 C4 f J4 r4 e
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)
& T9 p4 f' J# X7 r% Athe company's trading performance (relative to budgeted costs and planned sales and profitability)* `( U# W! _ g) z) n! X7 [$ _
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
1 d( b! ]3 A" ]) \- I7 f* ethe company's last company-wide salary review, and the range of % increases awarded
& X' |# y# U1 `: {" C- [* Qthe company's next company-wide salary review, and the likely range of % increases
, ]7 E X5 r/ k) H) f6 Rwhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)7 O T6 N1 x2 n3 S5 V
how valued you are to your boss and company
; I d) F" H5 show easy it would be for them to replace you with someone of similar capability and value at the same or less salary ~$ y+ S% Y4 `$ Y3 ^* P
how much extra responsibility and/or you are prepared to take on3 |- ^6 z) N) s% Y2 u$ t) o$ H
how much extra effort you are prepared to put into the job and how ambitious you are
2 H- l$ p8 k2 L) X2 D' A. dand, 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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