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factors you have to think about first:0 A0 o4 @) ^) p& C; p2 j& a7 _
how well paid you are at the moment compared to the market norms
1 ~' J7 m$ T/ a& |/ Zthe rate of inflation6 s3 L6 [* d. q' e; f
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 ^7 K8 n2 d6 z/ b) S8 K5 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)2 @- d3 l, t) y, X/ P
the company's trading performance (relative to budgeted costs and planned sales and profitability)
3 }4 g! X0 \1 s5 V2 o' g6 j5 V0 Dthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)+ \6 l( J1 `2 n. e8 M
the company's last company-wide salary review, and the range of % increases awarded& F9 ^- ?: ~$ ]' c' q
the company's next company-wide salary review, and the likely range of % increases
/ w) p- T9 u) T) S' |what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)9 ^: T- r+ P7 V" d& e
how valued you are to your boss and company4 O3 A0 l5 _; I8 ~. m: Y5 _
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
J; f, y1 p3 D; phow much extra responsibility and/or you are prepared to take on% c- T8 v' {+ w6 r+ R! n4 G
how much extra effort you are prepared to put into the job and how ambitious you are
" c0 b- b" W' T* N8 ]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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