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factors you have to think about first:* A/ q0 c; p( B
how well paid you are at the moment compared to the market norms
- W+ g3 o" C. a: t1 I, }1 @5 Qthe rate of inflation5 H8 x/ `. F7 w( G% f1 u' m
where you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people0 z0 P/ }. R) L8 [2 W* K( F
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)
% p8 h1 q* R" @1 X& _. X; L) @* nthe company's trading performance (relative to budgeted costs and planned sales and profitability)3 T5 H& U- u; s
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
- Q3 G# r6 T- t3 \the company's last company-wide salary review, and the range of % increases awarded
$ w- x) o; j8 B0 D( M1 {/ sthe company's next company-wide salary review, and the likely range of % increases
; i1 ? \) Y: h* hwhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
* a& v. \4 V) V8 t7 ?how valued you are to your boss and company
6 K2 }$ c: _: U8 i# ?; \1 show easy it would be for them to replace you with someone of similar capability and value at the same or less salary
8 v; ?6 ]$ J+ M; L$ ihow much extra responsibility and/or you are prepared to take on
( \# x2 }. y0 m4 Yhow much extra effort you are prepared to put into the job and how ambitious you are
8 i- k2 E. b# U) jand, 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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