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The salary you receive will depend considerably upon four factors:
- Your level of work experience
- Your educational attainment
- The sector you are working in
- Where in the country you are working
A good way to measure what your salary should
be is to quantify how much money you are making for the company
you work for. Obviously if you're working in the public sector
or a not-for-profit organisation then this will be harder to do.
However if you are able to quantify how much you contribute to
the company you will be able to get a good idea of what sort of
salary you should be receiving. Depending upon the margins and
the overheads that the company faces a sensible ball park estimate
would be that gross salary should be approximately 25 per cent
of revenue contribution.
These sort of considerations should be taken into
salary negotiations. Companies will not want to lose people who
are making them money.
Things you shouldn't do when asking for a pay
rise are:-
Don't act like you're owed it. There's a fine
line between acting confidently and arrogance. No matter how much
you think you deserve more. If you want a pay rise, you must convince
your boss that it's in the company's best interest.
Don't tell a sob story. Your boss is unlikely to give you a raise
becauseof family problems. Everybody has problems and this will
make you look highly unprofessional. Keep your personal life to
yourself and concentrate on showing why your worth more than you're
being paid.
Don't get angry or threaten to quit. Why would your boss invest
in an employee who would jump ship? Threatening to walk out shows
that you're not committed, making you a bad bet. That said, there's
nothing wrong with using a competing offer as a bargaining tool
when you ask for a raise. Just be very careful as your boss might
call your bluff and let you (with their help) take that competing
offer.
Don't demand to be paid as much as a co-worker. It's annoying
to discover that one of your colleagues is getting more than you
to perform the same job, but don't assume that confronting your
boss will lead to parity. You may not have all the information
- for example your colleague may have more qualifications than
you.
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