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factors you have to think about first:* N2 Y4 U3 O+ E& r
how well paid you are at the moment compared to the market norms
2 o4 v2 y: C3 [8 A+ W0 o {the rate of inflation! A4 w% o# O+ d7 J L6 r) W5 H
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
5 j- u- t+ a8 y2 {* x0 zthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)" n" I7 M9 K3 f5 U
the company's trading performance (relative to budgeted costs and planned sales and profitability)
: y' ~# ~) O8 Y, P& I, G8 }3 }0 l; qthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)+ Y1 a1 [5 j% b& l
the company's last company-wide salary review, and the range of % increases awarded6 V8 [4 k; ?8 q# `* z6 E% N
the company's next company-wide salary review, and the likely range of % increases
, b* x; C. Z$ M4 V& A$ _what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
( v8 b& ~/ n1 J9 l' w0 khow valued you are to your boss and company
- w; L r( _$ v7 J( ~how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
& E" S: W; f( n. Xhow much extra responsibility and/or you are prepared to take on$ y$ D3 Y1 y+ e& A7 D4 B
how much extra effort you are prepared to put into the job and how ambitious you are 0 m, A+ m- e6 n: W/ ^* t B
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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