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factors you have to think about first:+ P2 e' @ v \( b/ B; i. H) z+ ^
how well paid you are at the moment compared to the market norms
' I6 n6 ?5 M! p8 w c) p9 O$ ?7 _8 rthe rate of inflation( t8 B6 B8 g7 {1 A# p7 g
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
: c* L# `/ S( I! i* |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)/ M' ?4 o! Y8 S5 q
the company's trading performance (relative to budgeted costs and planned sales and profitability). T; d& ]2 ~! `' B# z: v# [. n
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
6 C3 j& I$ w2 U% u" Nthe company's last company-wide salary review, and the range of % increases awarded* C0 h' v& `' W
the company's next company-wide salary review, and the likely range of % increases% ]6 D9 t F# d
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
* `$ `7 [% h' hhow valued you are to your boss and company3 K8 M9 Z/ O- n$ I6 U9 E1 f: n0 M
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary+ q5 C! P% o4 Z
how much extra responsibility and/or you are prepared to take on
, l& p: M: B( [1 U3 Ehow much extra effort you are prepared to put into the job and how ambitious you are
( V# ?2 _. A" B) pand, 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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