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factors you have to think about first:* e( v# B& t- h
how well paid you are at the moment compared to the market norms
2 y4 Q* ~( D4 j$ q Gthe rate of inflation1 _9 F0 K, y8 g: p8 O) V# z+ v) S
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
4 b5 D8 {, \( X; F; Sthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
4 c8 i8 J+ `% q0 ?# B! ythe company's trading performance (relative to budgeted costs and planned sales and profitability)
t3 b9 ?4 `+ l+ H% _the available budget your company has for pay rises (which is usually none, apart from annual salary review time)! _4 I# {+ V! _+ n) _: ?7 j
the company's last company-wide salary review, and the range of % increases awarded9 N2 P U7 z- S" z( I8 x
the company's next company-wide salary review, and the likely range of % increases- ?+ x# c# M; n4 Z, U6 {
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)9 q+ n, J7 B% t
how valued you are to your boss and company
4 R' w+ B' \2 [0 Ehow easy it would be for them to replace you with someone of similar capability and value at the same or less salary
2 t$ x( R$ i* ?( Y4 w5 phow much extra responsibility and/or you are prepared to take on3 p/ C, L4 Q' k, n3 l7 N& f
how much extra effort you are prepared to put into the job and how ambitious you are
2 d0 W: o) K' I) E9 D5 ], Gand, 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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