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factors you have to think about first:& _- ]0 @- B/ E) [1 I" G% l2 e
how well paid you are at the moment compared to the market norms% V7 x- @ I" e8 {
the rate of inflation, v3 A/ Y2 P5 ] _
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
# H0 z8 E, r( m; F/ Rthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
* V- [8 T( h, Kthe company's trading performance (relative to budgeted costs and planned sales and profitability)
5 ~" P$ v# f* Wthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)
7 k5 k/ C* c1 X g9 v1 g4 h3 \4 xthe company's last company-wide salary review, and the range of % increases awarded
2 b) B' j6 C& m5 zthe company's next company-wide salary review, and the likely range of % increases
0 j' q& f* s# G4 I+ ~! d! }what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)" [9 e. u& J; w, O
how valued you are to your boss and company' A& U( u( w, K4 Z" K, k
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary3 K/ a1 k; q" K5 G
how much extra responsibility and/or you are prepared to take on: @3 X/ @7 Z; Z1 v
how much extra effort you are prepared to put into the job and how ambitious you are ' D* Q+ a& U: b" ` b5 L- h) b
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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