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factors you have to think about first:. k+ X9 X+ A8 v6 ~
how well paid you are at the moment compared to the market norms
" x9 I* h5 ~9 f$ _5 A* Jthe rate of inflation
. B6 t6 ~3 N! x1 vwhere 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, s5 x8 N+ }, n Wthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
9 K: ~- `2 v8 V A3 h" j$ w5 @the company's trading performance (relative to budgeted costs and planned sales and profitability)
& c2 F, K: b# c! `the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
x" x$ V0 B D$ C7 Zthe company's last company-wide salary review, and the range of % increases awarded
# M2 N- K1 X' k4 ?# Pthe company's next company-wide salary review, and the likely range of % increases) L V% [. s- Z
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)' H6 u( m* n( @& |9 v
how valued you are to your boss and company* U* {2 N. W# o# z; ~. W
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
/ P. L( B/ z7 J1 Y+ ?5 C' nhow much extra responsibility and/or you are prepared to take on: y+ @# a1 \# z* U0 w6 ?& L
how much extra effort you are prepared to put into the job and how ambitious you are
& s4 ?5 H. B2 Q# ?- Fand, 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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