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factors you have to think about first:+ i9 p; {$ T4 V! m( r. ?, |4 G
how well paid you are at the moment compared to the market norms" b: F: F! i. _" c
the rate of inflation
0 m) [5 k q; w% ]" vwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
- X/ C- D, v; P" o! U4 Hthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
y" S9 p+ \2 S/ t6 lthe company's trading performance (relative to budgeted costs and planned sales and profitability): _' C( [# o/ x
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
- y" @8 a$ U+ p, w( R- ?4 |) uthe company's last company-wide salary review, and the range of % increases awarded
! c5 B+ j! I: d* d4 O7 j/ Z7 O' rthe company's next company-wide salary review, and the likely range of % increases! u4 z1 l4 \ N
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
: Y3 m" }; F) a0 qhow valued you are to your boss and company
7 G4 d# w% i/ f5 ghow easy it would be for them to replace you with someone of similar capability and value at the same or less salary
$ g. G' g& p) d& H+ ?& W$ z0 k$ b* M7 Rhow much extra responsibility and/or you are prepared to take on7 @0 e; M, B/ Y/ d2 s
how much extra effort you are prepared to put into the job and how ambitious you are
" b3 P7 n( r0 S% T I u# hand, 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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