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factors you have to think about first:- W8 M- t/ J- Z
how well paid you are at the moment compared to the market norms: T7 ]. n: ^' I/ w: l) w
the rate of inflation
- j, v+ l9 k$ d. ?6 W9 c; vwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
9 B$ ~# Q& X( M& uthe 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 b* S v0 W7 q2 ~7 A( i3 }the company's trading performance (relative to budgeted costs and planned sales and profitability)' M+ A+ P$ K5 V# _+ W$ m- m
the available budget your company has for pay rises (which is usually none, apart from annual salary review time)
# w: {7 b+ U$ u, q) ]9 Kthe company's last company-wide salary review, and the range of % increases awarded6 {7 z c9 J* K' N
the company's next company-wide salary review, and the likely range of % increases; J1 d. Z s, C, A
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
3 w! Z! l7 N' L/ ]5 {/ w6 _how valued you are to your boss and company0 T# o E! ] n* d
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary* e, G+ o. k5 n% M9 [, O& \
how much extra responsibility and/or you are prepared to take on2 Q- ]; G. O+ V, Z5 s0 A
how much extra effort you are prepared to put into the job and how ambitious you are
2 u L3 H* W ?' }' Pand, 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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