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factors you have to think about first:; r' t9 b4 d) T5 L5 W) d! k
how well paid you are at the moment compared to the market norms
9 t5 _) H) R* y1 m9 Q) sthe rate of inflation1 e" E! H0 T g- |& T: I2 E
where you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people9 @8 `3 }0 k( l: 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)% M8 N+ U/ k$ O3 x. T. l* _
the company's trading performance (relative to budgeted costs and planned sales and profitability)
+ e+ g) ~3 f% ethe available budget your company has for pay rises (which is usually none, apart from annual salary review time)
$ w* L8 B4 n" T( t3 L# G+ wthe company's last company-wide salary review, and the range of % increases awarded" y7 E3 g0 U; ^' T b4 E
the company's next company-wide salary review, and the likely range of % increases
' F/ b0 \/ @. z% X$ Twhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
7 q" y, G) ?0 Z1 Bhow valued you are to your boss and company
, B# Q) \6 `. V+ q( ]7 Q# W, n% |how easy it would be for them to replace you with someone of similar capability and value at the same or less salary- y0 N2 i/ V! T4 Y f' o# H. q
how much extra responsibility and/or you are prepared to take on4 s+ Y4 d1 n# r/ d$ C
how much extra effort you are prepared to put into the job and how ambitious you are
1 e3 \% D! g( G/ [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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