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factors you have to think about first:6 E3 z8 Q5 y N, F
how well paid you are at the moment compared to the market norms
" V/ F' J! u. J7 F3 v( |the rate of inflation
0 j4 u$ U, [' B! Q* b5 }( t+ xwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people! E0 v9 D( H3 r
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)5 v( |; e3 ]8 X) T$ v
the company's trading performance (relative to budgeted costs and planned sales and profitability)
l. G/ K7 T3 |7 W5 Y# sthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)- d$ ~" b: P5 G* U7 V( S P
the company's last company-wide salary review, and the range of % increases awarded
: j0 ^, Q" Y2 cthe company's next company-wide salary review, and the likely range of % increases; Y% T4 _- \' [8 v0 C( c
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
# {! H+ ^. M/ ], S S4 j: Y7 R% ohow valued you are to your boss and company. h5 T- Z5 c e+ R, j
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary( N9 r E Q3 _. B& g, g/ \: j
how much extra responsibility and/or you are prepared to take on3 N% v5 K- i' g$ ]) Q) H7 o
how much extra effort you are prepared to put into the job and how ambitious you are 8 G' Z. p8 d8 e& k& }
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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