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factors you have to think about first:" L; P* f5 R7 |+ s8 ]
how well paid you are at the moment compared to the market norms
' ~- F% P0 B# l& othe rate of inflation, w- {% |+ t5 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; x- a1 c2 O. O$ N
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), x0 q: L7 f8 P7 p' q# f$ d+ r
the company's trading performance (relative to budgeted costs and planned sales and profitability)" U' x. L+ D; i1 v# ] N
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)) U+ H/ i- X" B# U5 u9 R* }
the company's last company-wide salary review, and the range of % increases awarded
% q+ ~, b5 J! u: R* lthe company's next company-wide salary review, and the likely range of % increases8 R/ P ?6 J3 j4 d7 m! p
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
& q( ]4 w/ m. E& Hhow valued you are to your boss and company
2 [3 L" I5 {" y4 C+ Fhow easy it would be for them to replace you with someone of similar capability and value at the same or less salary. j; C# X- a) E/ }% S! T
how much extra responsibility and/or you are prepared to take on1 F( p' \! X5 n6 h1 u
how much extra effort you are prepared to put into the job and how ambitious you are
: z$ n9 o2 e5 s4 K5 C( r/ |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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