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factors you have to think about first:
# Q- G$ H! ^4 bhow well paid you are at the moment compared to the market norms8 y3 c& K3 }2 r
the rate of inflation
! Y- a+ }: K/ @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- j2 l/ l% k- a& T! p8 B# Q3 ^* c
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)
) }- S4 o8 A- |' f" |+ g% Wthe company's trading performance (relative to budgeted costs and planned sales and profitability)
# B) i* q( w( Y2 O/ i- a! Ethe available budget your company has for pay rises (which is usually none, apart from annual salary review time) J& a! o- a6 h& j
the company's last company-wide salary review, and the range of % increases awarded1 s& O$ f. |. O$ [' d4 A4 r/ | T
the company's next company-wide salary review, and the likely range of % increases
" N( U# [* W0 F3 w3 r4 O- bwhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company), C2 U. M& O3 [& p# ?
how valued you are to your boss and company
- w) I% y4 d1 T6 s' f. Qhow easy it would be for them to replace you with someone of similar capability and value at the same or less salary
6 U6 O) s& i8 C3 I2 {2 phow much extra responsibility and/or you are prepared to take on/ k4 y$ o! C" [7 f# k6 S
how much extra effort you are prepared to put into the job and how ambitious you are 3 u J! I) g9 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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