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factors you have to think about first:' B$ K$ _6 m: W; C
how well paid you are at the moment compared to the market norms
9 d. b% [; a/ }3 Cthe rate of inflation) P3 c" w# W2 z% m7 {
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
/ f2 T* U8 ?; j$ ithe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)2 W4 F3 x8 \! P, @+ i/ A# I6 k2 @
the company's trading performance (relative to budgeted costs and planned sales and profitability)- Z. `5 L; m X- N' [" h: J, }
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
3 D7 m8 ?, a8 ]2 Athe company's last company-wide salary review, and the range of % increases awarded8 n: G' c) g7 s( h
the company's next company-wide salary review, and the likely range of % increases
1 L1 W9 M9 S7 D$ J' mwhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)/ ~! o8 o$ g+ }( q) X# Q/ S
how valued you are to your boss and company) \% \" Q# N- \4 W4 G1 r
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary4 d$ N z; f' Q& C) ^
how much extra responsibility and/or you are prepared to take on
a: J3 [* Z- Uhow much extra effort you are prepared to put into the job and how ambitious you are 6 @1 k1 j) y& B" X( y. H
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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