Salary increment monthly distribution

ruchperformive

New Member
Joined
Mar 2, 2021
Messages
7
Office Version
  1. 365
  2. 2016
Platform
  1. Windows
We are to build 5 year financial model and considering to put 3% salary increment every year based on hire date Excel File <- data

FOR EXAMPLE

DeptAnnual SalaryYear of servicehire dateAnnual BonusTaxesBenefitsTotal Burdenoct-20Nov-20
Support6000010.311/22/201000786014236928357145945

Suppose support person was hire in 11/22/2010 but our model is built from 2020. So, we only want to go 12 months back. Suppose xyz salary is 60000 from NOV 2020 to Nov 2021 and from Dec 2021 xyz will get 3% increment in base salary. new salary will be $61800(60000*0.03+60000) + 8096 tax + 1450 benefit= 71346 total burden from Dec 2021 to Nov 2022. we want to distribute 5945 (71346/12) from dec to 2021 to Nov 2022. From Dec 2022 he will get another increment of 3% which will revise his salary to 63654 (61800*0.03%+61800) and distribute it from Dec2022 to Nov 2023.
Oct-20Nov-20Dec-20Jan-21....DEC-21Apr-21
$5,714​
$5,714​
$5,945​
$5,945​
5945​
6123​
6123​

How can we automize this process so it can pull monthly revenue increment in our model ? There should be 3% increment on every hire month in base pay and taxes +benefits should be recalculated and spread out total burden/12 in next 12 month
 

Excel Facts

Add Bullets to Range
Select range. Press Ctrl+1. On Number tab, choose Custom. Type Alt+7 then space then @ sign (using 7 on numeric keypad)

Forum statistics

Threads
1,216,115
Messages
6,128,915
Members
449,478
Latest member
Davenil

We've detected that you are using an adblocker.

We have a great community of people providing Excel help here, but the hosting costs are enormous. You can help keep this site running by allowing ads on MrExcel.com.
Allow Ads at MrExcel

Which adblocker are you using?

Disable AdBlock

Follow these easy steps to disable AdBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the icon in the browser’s toolbar.
2)Click on the "Pause on this site" option.
Go back

Disable AdBlock Plus

Follow these easy steps to disable AdBlock Plus

1)Click on the icon in the browser’s toolbar.
2)Click on the toggle to disable it for "mrexcel.com".
Go back

Disable uBlock Origin

Follow these easy steps to disable uBlock Origin

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back

Disable uBlock

Follow these easy steps to disable uBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back
Back
Top