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factors you have to think about first:' x, }% A9 ~2 Y' W; D/ I" R) E
how well paid you are at the moment compared to the market norms3 h" ], F9 u# G9 H2 |3 ~. q
the rate of inflation ]9 N% L9 z* w% ?5 g- r
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 m* ^; ^" z* ~1 _/ F% i# z! [
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)- a* j- i9 ~2 K6 G
the company's trading performance (relative to budgeted costs and planned sales and profitability)
. d% g( E: Y5 N# ]) `8 s. J6 gthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)/ r I3 d8 e' G9 V
the company's last company-wide salary review, and the range of % increases awarded
% |8 _/ x) L% j% Bthe company's next company-wide salary review, and the likely range of % increases! @# S( `8 y. c* T: l
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company): h9 z6 q; `8 ~- v/ S
how valued you are to your boss and company- G0 k! x5 V+ w3 B- q: q5 H7 N
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
( C% @9 t9 w6 w- \) }# G, V+ fhow much extra responsibility and/or you are prepared to take on! i1 W) d7 K j
how much extra effort you are prepared to put into the job and how ambitious you are : f( V7 `8 J+ Y; 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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