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factors you have to think about first:
* ]. T) R1 Q u, e' ]+ I7 Ohow well paid you are at the moment compared to the market norms; ]( g+ ?# E/ W2 z
the rate of inflation B+ @3 E! Z& {$ r3 M8 |
where you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people3 {3 w) A; _4 I! y
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)
) T$ A) @0 ]' k6 z( ]5 {the company's trading performance (relative to budgeted costs and planned sales and profitability)
* Q; u/ X3 ~" c2 W5 p2 sthe available budget your company has for pay rises (which is usually none, apart from annual salary review time); o5 T+ Y% _" p0 O) R4 P
the company's last company-wide salary review, and the range of % increases awarded8 z4 b2 U0 @- H) [$ T0 b% S
the company's next company-wide salary review, and the likely range of % increases: R; j7 T5 x' J
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)* f3 K" M9 v" d7 e; B, T
how valued you are to your boss and company" v% S% d% O1 x, @! ~. V5 X7 H( [# @
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary
, y) ?; i* g$ W8 Qhow much extra responsibility and/or you are prepared to take on! f5 _ ^9 p/ r# O4 j$ J$ o0 X
how much extra effort you are prepared to put into the job and how ambitious you are & ]: H0 t$ O7 U0 R7 e2 G
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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