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factors you have to think about first:
" r" A- G b r1 ]: K3 j# ^how well paid you are at the moment compared to the market norms5 ?$ @- g r$ Q5 P* v0 M
the rate of inflation0 s: G4 N/ T7 B3 n/ h) v
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
/ r9 B% k+ ]: Z6 q" u. Bthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
0 E# \* o. r: {+ \6 @' nthe company's trading performance (relative to budgeted costs and planned sales and profitability)& E1 }5 K2 O5 d( h/ T, f9 Z
the available budget your company has for pay rises (which is usually none, apart from annual salary review time) a+ Y: z2 R) }- L3 o
the company's last company-wide salary review, and the range of % increases awarded2 ]# v; u( q, N7 h: O
the company's next company-wide salary review, and the likely range of % increases
( P4 K3 ?# N9 C/ M. Lwhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)6 G7 a5 S8 K+ h. Y: k4 u7 g
how valued you are to your boss and company& }) z# R& l$ k) Y: b
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
8 \5 I3 }# A' _: d' rhow much extra responsibility and/or you are prepared to take on. X: r- S0 U1 o0 D$ y) e' Q
how much extra effort you are prepared to put into the job and how ambitious you are
7 o8 g5 H- G9 g) ?6 g; Y) _2 Uand, 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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