I know how do do a simple salary schedule to to calculate year over year salary.
I've tried googling, but came up short. Does anyone know of a formula that I can use to calculate year over year salary expense average?
I'm trying to create a template to use for new-account bids to factor in average salary expenses based upon contract length. If there is a formula for this purpose, it will help with other category and modality projected calculations.
Inputs:
Account Annual Salary: 370,000
Years: 5
Annual increase: 3%
Average: 392,876
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I've tried googling, but came up short. Does anyone know of a formula that I can use to calculate year over year salary expense average?
I'm trying to create a template to use for new-account bids to factor in average salary expenses based upon contract length. If there is a formula for this purpose, it will help with other category and modality projected calculations.
Inputs:
Account Annual Salary: 370,000
Years: 5
Annual increase: 3%
Average: 392,876
rate | 3% |
y1 | 370,000 |
y2 | 381,100 |
y3 | 392,533 |
y4 | 404,309 |
y5 | 416,438 |
average | 392,876 |
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