ruchperformive
New Member
- Joined
- Mar 2, 2021
- Messages
- 7
- Office Version
- 365
- 2016
- Platform
- 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
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.
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
FOR EXAMPLE
Dept | Annual Salary | Year of service | hire date | Annual Bonus | Taxes | Benefits | Total Burden | oct-20 | Nov-20 |
---|---|---|---|---|---|---|---|---|---|
Support | 60000 | 10.3 | 11/22/2010 | 00 | 7860 | 1423 | 69283 | 5714 | 5945 |
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-20 | Nov-20 | Dec-20 | Jan-21 | .... | DEC-21 | Apr-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