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factors you have to think about first:7 F3 K9 U+ v# B
how well paid you are at the moment compared to the market norms5 m9 P- `, I" U7 n7 [6 @& }
the rate of inflation1 u. d: K2 K/ c* b$ ?0 D
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
8 ~5 A- H7 n- H3 x+ Tthe company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
, ?+ O/ a' R, C% W' M* s1 |2 M; Mthe company's trading performance (relative to budgeted costs and planned sales and profitability)
# ^9 H: d1 Z0 k) V1 W- Y0 l, O4 Tthe available budget your company has for pay rises (which is usually none, apart from annual salary review time)
4 S' X6 r) b2 `2 k9 }2 d/ N2 E+ Rthe company's last company-wide salary review, and the range of % increases awarded8 t% |; x9 N5 o, q' g4 w" [. y9 I
the company's next company-wide salary review, and the likely range of % increases
6 n$ v; E" A0 X8 W+ Swhat precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)2 ^( l& V( n7 N% p T
how valued you are to your boss and company7 Y0 _! s' H3 @/ D7 d% P
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary, ?5 j! s" [+ b# v% o
how much extra responsibility and/or you are prepared to take on+ G: z" t% x0 d
how much extra effort you are prepared to put into the job and how ambitious you are + q2 @9 U/ _6 v% G) A
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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