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factors you have to think about first:: e& ~3 S# \9 r: }" q, E
how well paid you are at the moment compared to the market norms
/ `0 J5 W( S2 p% u" @9 Qthe rate of inflation
. J! h1 l+ M: z' |! c) V! Nwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people7 w' u# z4 N/ [$ F% F6 k5 Y
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)3 J" F! i! D' J
the company's trading performance (relative to budgeted costs and planned sales and profitability); j6 e+ f- Z4 g) B: z3 B
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
; j, O; k- e8 B; Z* X4 k% qthe company's last company-wide salary review, and the range of % increases awarded
0 J9 V: _& c. D1 [$ tthe company's next company-wide salary review, and the likely range of % increases) e5 X! J6 K: O P6 ?
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
, ]; i: d. U j9 `3 J M; Rhow valued you are to your boss and company
( [, J% x% ]/ Q- o* phow easy it would be for them to replace you with someone of similar capability and value at the same or less salary6 b/ h, s$ D: ?
how much extra responsibility and/or you are prepared to take on
! q6 f9 [9 @' ~, }2 F ohow much extra effort you are prepared to put into the job and how ambitious you are 1 V- P) M. y% u. a8 S
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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