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factors you have to think about first:. B a, v; @: A8 A% g( X4 @" G
how well paid you are at the moment compared to the market norms6 V% J6 L, t+ z) I) B
the rate of inflation0 q( n5 q/ L; Z
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
$ C5 n/ ]' D5 @4 Z: Gthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
3 p& y) @6 Z4 a5 p: g+ k0 Sthe company's trading performance (relative to budgeted costs and planned sales and profitability)7 A$ n0 _- g1 a2 J+ F& @5 d$ s2 E
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
- }# k3 i6 A/ j8 M' B- @, _the company's last company-wide salary review, and the range of % increases awarded
! k, b2 T3 S- c1 A# Jthe company's next company-wide salary review, and the likely range of % increases! z1 G& T9 c5 M- N9 H
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company). g6 j4 H1 ~' g+ X3 W
how valued you are to your boss and company0 o, }" m$ H' E6 I3 l( Q6 |6 u
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
; h+ d7 z9 i" c4 P1 Xhow much extra responsibility and/or you are prepared to take on y I. V! M7 ]" k: J W
how much extra effort you are prepared to put into the job and how ambitious you are , s* ]. }* e* [* F
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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