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factors you have to think about first:1 s5 s' U' c0 @' H$ P7 a
how well paid you are at the moment compared to the market norms
0 t8 D+ A; F. _/ u2 z! p! D {the rate of inflation
" C1 d4 x6 U9 n' X3 B/ H ^1 e3 owhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
( z0 S. d9 @1 j v: Nthe 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 c7 Y- W, i$ Z6 T
the company's trading performance (relative to budgeted costs and planned sales and profitability)
$ r4 W1 a* Q% L. Q8 Xthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)
+ \' |1 c6 V0 ~9 u: gthe company's last company-wide salary review, and the range of % increases awarded8 o s% t$ d! L& |
the company's next company-wide salary review, and the likely range of % increases* n$ ~4 O! D2 F' k
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
7 e0 a4 N5 |/ lhow valued you are to your boss and company
3 \- n+ d0 a% O2 ?how easy it would be for them to replace you with someone of similar capability and value at the same or less salary. i$ l) u, A% c9 L6 ^0 U ~
how much extra responsibility and/or you are prepared to take on/ [' h. n+ x- b4 S2 l$ m( g
how much extra effort you are prepared to put into the job and how ambitious you are
- c5 \2 Q" H" X) Qand, 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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