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factors you have to think about first:2 @! U1 m& `( u& c
how well paid you are at the moment compared to the market norms
* p; |- K( s/ Fthe rate of inflation
! @7 j/ a- c' N; ?9 nwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people& s6 F& F& ~9 A8 \0 M. L& T
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) d& Y0 V6 y0 |+ v1 d/ V2 X
the company's trading performance (relative to budgeted costs and planned sales and profitability)
# M* R" B6 t6 R. R- \the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
! Z& p! N0 S- x( |( d1 |0 xthe company's last company-wide salary review, and the range of % increases awarded
, {% p( [) a1 B2 Q+ Dthe company's next company-wide salary review, and the likely range of % increases
' X5 i3 O2 k. }+ pwhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)! ?5 ?# H. q, ~, t4 ~8 T, ~
how valued you are to your boss and company
( T9 n% }! s' Q8 T0 D1 y' E' P+ |how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
, C0 T. M" d' N( R- h! khow much extra responsibility and/or you are prepared to take on; K5 s4 e* a1 ]+ Z7 T% J
how much extra effort you are prepared to put into the job and how ambitious you are
1 d2 `% _% b$ m2 ^! _6 H s0 Cand, 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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