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factors you have to think about first:
% o! \; E* C# P- K0 ]how well paid you are at the moment compared to the market norms, q6 q, [. R/ x. z& t8 ^ K; r4 `1 [
the rate of inflation
. S z& @2 @* t$ D' M1 _( nwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
; F1 Y$ x& w5 [7 j6 jthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)( n4 b* Z; M, f5 i- o+ h! z
the company's trading performance (relative to budgeted costs and planned sales and profitability)6 B* T8 s3 Z% X( C7 ~1 v3 P e
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)% H- P$ E, H" }
the company's last company-wide salary review, and the range of % increases awarded* w: Y k* g! J9 P1 ?
the company's next company-wide salary review, and the likely range of % increases
9 @1 M O2 O- m5 ewhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)! r3 S! r( |+ t B5 R x- X
how valued you are to your boss and company+ q8 e' c3 d' `' x/ r) O: n
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
|$ ^1 l* C% i, k4 x* s% @how much extra responsibility and/or you are prepared to take on& `! I E+ M% `* G, f
how much extra effort you are prepared to put into the job and how ambitious you are
' X" _* p9 }$ Vand, 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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