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factors you have to think about first:
8 B2 \, ^+ R! {+ k! t4 @# U) Rhow well paid you are at the moment compared to the market norms. [- o9 h0 @1 n0 ?
the rate of inflation
9 P: x* L' j j4 o Qwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
, k6 k0 a9 l9 o8 ]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)% e1 c7 t& v$ d$ h4 G5 v5 K
the company's trading performance (relative to budgeted costs and planned sales and profitability)
+ T: B$ {: L1 K# l, u. gthe available budget your company has for pay rises (which is usually none, apart from annual salary review time), F4 c, `- n1 Y; O3 s
the company's last company-wide salary review, and the range of % increases awarded- v8 Y$ g3 t$ H: A- z+ G
the company's next company-wide salary review, and the likely range of % increases8 z, V! x2 `1 T( G1 \9 `) C3 ^
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
- X0 z# l8 h- k( Ehow valued you are to your boss and company1 _% z) U. P9 f, O
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary1 x% ]) k9 s& ?, o4 @; H
how much extra responsibility and/or you are prepared to take on" w- W) H" y8 k
how much extra effort you are prepared to put into the job and how ambitious you are
: D0 W4 o8 {/ F/ u0 Z8 Hand, 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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