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factors you have to think about first:
" b/ b) K# `4 w7 Yhow well paid you are at the moment compared to the market norms
. U9 W0 c5 p6 E, T- h) R) Wthe rate of inflation
7 s3 E! Q( U; Cwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
( @2 d/ a$ R$ H2 e+ Z: othe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
; u0 ], u3 A( Z, p+ V8 z8 C) V# gthe company's trading performance (relative to budgeted costs and planned sales and profitability)/ z' h8 Z6 e4 N" z# u, Z8 M- B
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
H% H1 R, i( F& Nthe company's last company-wide salary review, and the range of % increases awarded0 w" T5 e5 I+ B
the company's next company-wide salary review, and the likely range of % increases
4 R5 d1 V k( n$ T8 y6 \what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
% P7 s! ?0 T6 S' N _9 Z$ zhow valued you are to your boss and company
* U# Z0 H3 G5 ~/ Z. C# ]how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
' h; l, ]+ t7 M( E! phow much extra responsibility and/or you are prepared to take on
2 i; E; |/ P. U$ [how much extra effort you are prepared to put into the job and how ambitious you are 5 i$ ]/ e( C& W6 W; T8 Q' G7 y( t
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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