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factors you have to think about first:8 k& ?8 @- S7 X
how well paid you are at the moment compared to the market norms( b- ?% P& V$ e, j J
the rate of inflation2 r! `7 [& S& g( r! G/ G
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
( P7 p3 D6 }/ F' ?4 Z$ fthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
1 f |7 y+ [, n( Y9 X: Q$ bthe company's trading performance (relative to budgeted costs and planned sales and profitability)
4 E) r% j9 k/ M" f0 Bthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)
" l+ W2 A4 r' _the company's last company-wide salary review, and the range of % increases awarded6 W/ W1 F' y4 N! i H4 i0 d
the company's next company-wide salary review, and the likely range of % increases
; t. Y) f+ [2 ?$ Z) X* Jwhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)3 K" x0 r! R8 H
how valued you are to your boss and company
* j( j+ R& _8 Y1 D% q, i; L! z Phow easy it would be for them to replace you with someone of similar capability and value at the same or less salary7 \. \- C9 v1 d- n2 ?
how much extra responsibility and/or you are prepared to take on
9 s, a. i* ^& H9 Y/ L# H5 S- [3 w8 Xhow much extra effort you are prepared to put into the job and how ambitious you are
* s& A! @9 d# N6 @8 ?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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