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factors you have to think about first:: }' R" K" P* N& r: U
how well paid you are at the moment compared to the market norms
9 ^2 ]9 e6 X$ f+ ^0 L8 N2 S* [ ^the rate of inflation R: z1 [' p9 ?. _8 {/ R/ R
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
/ E/ c" |; q. K+ v8 f" m" sthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)- n! b( _! `0 \. e0 u' f, U
the company's trading performance (relative to budgeted costs and planned sales and profitability)
, ^5 w3 X. H* C/ W( E0 Qthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)2 T7 ?3 d) [ x
the company's last company-wide salary review, and the range of % increases awarded$ {: h- E% N) J9 r( |
the company's next company-wide salary review, and the likely range of % increases' B* N( s0 f" l( J# v
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
* P; B L: G$ @! Hhow valued you are to your boss and company
9 R2 |9 N& Y! ]/ Nhow easy it would be for them to replace you with someone of similar capability and value at the same or less salary
% t* F p7 o. n- Qhow much extra responsibility and/or you are prepared to take on
9 l. _0 Z: Q: N3 l9 s/ v7 @( q8 zhow much extra effort you are prepared to put into the job and how ambitious you are
$ X6 q5 r; x$ h( G2 rand, 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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