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factors you have to think about first:# ]0 T, i1 ~& N4 v6 I5 q
how well paid you are at the moment compared to the market norms
7 y. O# E! R+ {the rate of inflation
7 |* `* v) O# E: Iwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people/ `: s; _2 {& @: h. x, q# }
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)
: o6 g. |9 l% \+ j0 H0 Wthe company's trading performance (relative to budgeted costs and planned sales and profitability)
) q! Q/ N( {4 c, M. q X5 C) [the available budget your company has for pay rises (which is usually none, apart from annual salary review time)1 N9 n8 W+ ?5 v! _; h
the company's last company-wide salary review, and the range of % increases awarded p: t% e* ]4 O- @
the company's next company-wide salary review, and the likely range of % increases
8 B; A- I, x( p3 X; b, owhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
. ], Q' g/ R% F, s. h$ o( show valued you are to your boss and company! l* G. ]/ l5 \ A! t! V, T( \8 ?, Y
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary" W) D' e, V0 k
how much extra responsibility and/or you are prepared to take on; q% V- l% A* j* ^
how much extra effort you are prepared to put into the job and how ambitious you are 2 `# ?- J1 x$ c) T+ m
and, 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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