Cost to move hourly wages to market median

Charles0412

New Member
Joined
Oct 4, 2020
Messages
1
Office Version
  1. 365
Platform
  1. Windows
  2. MacOS
Hello! I am trying to calculate the cost to move wages to the 50th Percentile. I need to compare the cost to moving them in 1 year vs 2 years. Trying to solve for how far off the wages are from market and what's the recommended glide path to get the wages to the 50th P.
Scenario 1: Would like to calculate the cost of moving wages to the 50th Percentile in year 1. what is the 12 month cost to close gap?
Scenario 2: Would like to calculate the cost of moving wages within 25% of Market in year 1 and then to the 50th Percentile in year 2.
Scenario 3: Would like to calculate the cost of moving wages within 25% of Market in year 1, within 10% of market 6 months later, then 50th percentile in year 2.

Assumptions - 1) market movement 3% each year. 2) employee automatically receives $0.25 base rate increase every 3 months based off hire month 3) Increase Month April

Thanks in advance!

EmployeePosition Base Rate/HrMarket - 50th Percentile (hourly rate)Hire Month
123Abc$12.25$15Jan
404Abc$16/$15Feb
312Abc$14.50$15Mar
256Abc$12$15Apr
522Def$14$18Apr
621Def$16$18Nov
755Def$17$18Dec
 

Some videos you may like

Excel Facts

Copy a format multiple times
Select a formatted range. Double-click the Format Painter (left side of Home tab). You can paste formatting multiple times. Esc to stop

Watch MrExcel Video

Forum statistics

Threads
1,127,759
Messages
5,626,695
Members
416,200
Latest member
Pulsar3000

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
Top