formula on incremental salary

[heavenlyboy]

Hello.

I need formula for incremental salary every 1 year

Let say the

A	B
Jan	Feb
100	50

Let say A join January and B join February. A salary is 100, B salary is 50. In next 3 Month they will get incremental salary at 7%.

Question: how to make it dynamic, if I change their join month, let say A to March, then Incremental would be at March + 3 months (June)

Thank you.

[Kaper]

For instance in B9 and copy right:
=IF(B$8>=$C3,$D3*(1+ROUNDDOWN(DATEDIF($C3,B8,"m")/12,0)*$F3),0)
Please note that for months 23 on you had wrong dates in your dummy file (changin daily, not monthly) in row 8

[heavenlyboy]

Thank you Kaper.

Let me explore how you make the formula

[Kaper]

The main part is date difference in months

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then, as you (in file) need the increase every 12 months the difference is divided by 12 and only whole number is taken into account (fraction is discarded)

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then it is multiplied by percentage increase (so we have 7% after 12 months, 14 after 24, 21 after 36, and so on)
Then it is and added to 1 (100% which is starting value)

[heavenlyboy]

Hello Kaper, I need 7% from last salary not from basic
let say 50 USD as their based so in month 12 it would be 53.5,

I need in month 24 to 53.5 * (1+7%)

How to make it?

On your formula: in next 12 Month. Salary will become 53.5, next 24 month become 57 (50+3.5+3.5)

I need to have incremental 7% based on their last salary not based on their first salary.

Once again thank you

[Kaper]

Try:

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or ... probably better:
include rounding of the result to (for instance) 2 decimal places:

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[Richard Buttrey]

Here's what I think you're trying to achieve

[heavenlyboy]

Hi Richard,

Let me explore first, thank you for your help. Reallty Appreciate. I will ask question if any discussion

[heavenlyboy]

Let me try Kaper. Thank you once again.