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factors you have to think about first:8 S- O! }. i4 W- ~2 p
how well paid you are at the moment compared to the market norms
; A. y* P6 @- N! [& S& l# jthe rate of inflation
! z: c P, ?1 v' G% g# q1 S% Xwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
) q& a# k8 u4 f; Cthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)! q! k9 ^+ F0 v5 A
the company's trading performance (relative to budgeted costs and planned sales and profitability)
$ O3 [6 [# U; K l& {) G# sthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)# y5 j9 f0 `/ ]; C$ {+ E
the company's last company-wide salary review, and the range of % increases awarded
# k ]( k- n# m6 _% u- n& [the company's next company-wide salary review, and the likely range of % increases; T# |7 Q' w+ r* ~% d
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)! ]% l3 S/ i7 {$ U
how valued you are to your boss and company
+ W8 v) Z' ~" d6 N+ F* Yhow easy it would be for them to replace you with someone of similar capability and value at the same or less salary
6 g8 y/ L1 t z8 l- Q% B5 _how much extra responsibility and/or you are prepared to take on
: p( m9 l3 a6 t- `2 x" k: ~5 Qhow much extra effort you are prepared to put into the job and how ambitious you are
* J0 \+ Y3 y0 z# [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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