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factors you have to think about first:
. F; f6 H |& i- b2 hhow well paid you are at the moment compared to the market norms* F' L* T4 w% F
the rate of inflation
2 Y! ~ ^/ U. E! D$ d/ cwhere you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people
% E d g( ]2 x" k1 Y& 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); u4 K7 ?8 X7 }
the company's trading performance (relative to budgeted costs and planned sales and profitability)) \6 d M) f- }5 W, {4 j$ `
the available budget your company has for pay rises (which is usually none, apart from annual salary review time): K, M* M7 S; b9 g( K" ]
the company's last company-wide salary review, and the range of % increases awarded' d# R7 z( K$ k) F% c1 l7 g6 M
the company's next company-wide salary review, and the likely range of % increases2 Q t" j! f. d }+ v( U
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)
2 I$ u0 T( y. g" n& g/ ghow valued you are to your boss and company, L! K, O% G- [. P/ L! n
how easy it would be for them to replace you with someone of similar capability and value at the same or less salary" P( o; L& a1 K( ]5 W$ G U r" n
how much extra responsibility and/or you are prepared to take on
1 i8 [9 e" `1 O& A1 nhow much extra effort you are prepared to put into the job and how ambitious you are
# q: U/ U C/ X3 iand, 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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