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factors you have to think about first:
! y8 |; }" H' j- S5 _* h- |how well paid you are at the moment compared to the market norms
) L; C8 ]) W! x9 [5 |8 \, rthe rate of inflation( o- x v+ `! C5 V! Z$ P
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' Y5 B) d6 P9 @1 f9 Y- K/ j
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)
7 h7 l6 }/ ]4 ethe company's trading performance (relative to budgeted costs and planned sales and profitability)
; ?1 u H% \2 ^* Nthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)/ m8 m! x( Z. ~, H: J" {; l
the company's last company-wide salary review, and the range of % increases awarded2 ^4 k/ L/ ?2 w5 o# N; a
the company's next company-wide salary review, and the likely range of % increases A9 y6 a$ u$ L( A0 ]- S: I
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)4 r; r2 F/ w- @( v
how valued you are to your boss and company
- [! @& L$ |8 j) {2 W9 n& Rhow easy it would be for them to replace you with someone of similar capability and value at the same or less salary- N6 Q% `9 v3 } s0 G+ A4 T) E- ~
how much extra responsibility and/or you are prepared to take on9 G6 }' Z6 L+ l) p
how much extra effort you are prepared to put into the job and how ambitious you are $ o b* h8 h4 p: d# ?
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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