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factors you have to think about first:
: F# J6 `2 y: H* Phow well paid you are at the moment compared to the market norms/ B7 x+ f# ^* W0 q* `) ]+ D
the rate of inflation
5 Y1 s% ~4 E- gwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people4 i u6 ?7 n7 q9 ] F
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)
- P/ x/ T3 H! ~, @the company's trading performance (relative to budgeted costs and planned sales and profitability)7 O9 g/ @4 n; Y
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)4 J+ f. M- Q( u. T4 s0 e
the company's last company-wide salary review, and the range of % increases awarded% h1 n& d( P& A* c
the company's next company-wide salary review, and the likely range of % increases5 A% S. v: O, ]$ v& K! q
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)) y( a7 r0 `- r9 c3 j$ r* F. ^9 \1 i
how valued you are to your boss and company# A1 c% E+ S/ q" @. J
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary7 ~4 h9 O' d+ M6 _
how much extra responsibility and/or you are prepared to take on
/ N& {9 @. Z* p( x5 b+ Bhow much extra effort you are prepared to put into the job and how ambitious you are & i# W$ F' G- y5 E, [9 A- ]
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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