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factors you have to think about first:
3 ]+ i9 J( F- y uhow well paid you are at the moment compared to the market norms+ p1 M8 D1 \0 Y) _
the rate of inflation
, J; T) w5 w% Jwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
2 M9 L9 p( @; Q) R& C1 wthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
$ `, H3 U4 { H6 _( k; r1 Jthe company's trading performance (relative to budgeted costs and planned sales and profitability)
" J6 [0 `- A/ \# gthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)
1 L' M' m1 R+ S6 u$ `, d- t8 Gthe company's last company-wide salary review, and the range of % increases awarded
+ X9 U) w% v5 a- r6 xthe company's next company-wide salary review, and the likely range of % increases
; U2 f7 y: E! o9 S6 A5 ^; wwhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
! o) N0 |' r5 Q9 Xhow valued you are to your boss and company
4 ^$ w' m0 ~+ ~. r6 z1 p) Ohow easy it would be for them to replace you with someone of similar capability and value at the same or less salary
" i2 W. U6 t) ^, a9 r* j1 ]how much extra responsibility and/or you are prepared to take on% X4 T4 @6 V5 E2 h6 i
how much extra effort you are prepared to put into the job and how ambitious you are
% N+ J; c e& i" i1 S$ [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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