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factors you have to think about first:& d- D: H/ R9 D! }
how well paid you are at the moment compared to the market norms
+ m* \- _* h9 b1 s8 ythe rate of inflation. C, d7 h" N1 o
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
% D3 }( \3 m7 g2 Pthe 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 w6 ?5 M6 ]% p) l8 ]6 ethe company's trading performance (relative to budgeted costs and planned sales and profitability)/ w' P R% R' P& r2 |3 F! W
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)3 |0 r6 k, U" f1 l3 @: w3 a" L
the company's last company-wide salary review, and the range of % increases awarded, |! x* J e O/ s) L
the company's next company-wide salary review, and the likely range of % increases; K j1 T N! H
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
" c+ V' Q- K# I. [! ]% {& Thow valued you are to your boss and company# i \2 k: g/ ?& v' h. V: g, W% a
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary/ P. k, M4 a- h& C" g1 m
how much extra responsibility and/or you are prepared to take on
4 f1 Y' V% B8 Rhow much extra effort you are prepared to put into the job and how ambitious you are
# M; r" u" x7 w0 D% x' wand, 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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