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factors you have to think about first:6 M) ]+ l- u" a0 ~$ H/ }) y6 e
how well paid you are at the moment compared to the market norms, _: M3 L; b8 H0 s2 j
the rate of inflation1 X5 `4 A3 f0 ~% P+ ^* k6 h
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) ~& K2 j% N g- h' K$ 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)
; j7 W6 {. i! Q7 `2 ]5 Pthe company's trading performance (relative to budgeted costs and planned sales and profitability)
# h5 c' F5 J9 W |1 ~% `6 ^0 b# rthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)
* U2 \* b" A, a9 J! b. B# G) v" \& Gthe company's last company-wide salary review, and the range of % increases awarded
2 F7 {5 H2 W9 _- ?! N: T- h$ Xthe company's next company-wide salary review, and the likely range of % increases" q, {( n0 M [3 p5 Q
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company); p: `& F$ [* O1 n1 T. q% ~- G
how valued you are to your boss and company
* x$ ^* v" H7 d1 x" [/ }how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
( U: }- j" i" K* }" B4 bhow much extra responsibility and/or you are prepared to take on% @* t6 B! s1 t( n& S
how much extra effort you are prepared to put into the job and how ambitious you are
3 V& {1 @. H/ ]5 Q$ ]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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