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factors you have to think about first:
7 ~2 {/ B" b4 k/ I9 ~how well paid you are at the moment compared to the market norms
) L, o5 K, r" ^6 B0 L6 s3 y0 ^! @the rate of inflation0 Z. d, m# Q# F! C. ]
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
) S& W7 a" Z8 h0 z7 J4 ]/ {: |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)
% K9 T$ B- b' r0 }# O Bthe company's trading performance (relative to budgeted costs and planned sales and profitability)
l7 T0 k* v6 s9 g% Kthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)- _2 k' }( ^; s) ^
the company's last company-wide salary review, and the range of % increases awarded- a7 q& _/ l" h3 M
the company's next company-wide salary review, and the likely range of % increases; i% o# _3 I# x! l8 S2 n
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
$ u% j1 d2 A7 D( n1 J2 _how valued you are to your boss and company
8 P6 s8 x% ]: N, D( ~how easy it would be for them to replace you with someone of similar capability and value at the same or less salary2 G. l' X0 h. n& A X
how much extra responsibility and/or you are prepared to take on, c; ?2 p. g) l8 K. G" v5 G4 ]* O7 \
how much extra effort you are prepared to put into the job and how ambitious you are
2 B% @5 r8 m. r% jand, 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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