Merit Increase Schedule Formula

[Jpalaci1]

I have a payroll file where I forecast out for the next five years how much base pay is with scenarios of merit earned by percentage. I have a working formula I created but wonder if there's an easier/more efficient way of completing this?

• All years/month before current year are just actuals and brought over
• Months 1-3 of current year takes merit of the previous year(s)
• Months 4-12 of current year takes merit of previous year(s) on top of proposed merit increase
• Future year(s)' 1-3 takes all previous year(s) merit increases
• Future year(s)' 4-12 takes merit of previous year(s) on top of prosed merit increase

Essentially, months 1-3 should match months 4-12 and 4-12 then next year's 1-3 should be the same.

I wonder if I could use a CHOOSE or some other function that will do addition of an increase more efficiently?

[#2 · Accepted solution]

@Jpalaci1 

You may add helper data as in column G

and use formula

=[@[Salary Amount]]*(1+SUM( $F$1:INDEX($F$1:$F$7, MATCH( DATE([@Year],[@Month],1), $G$1:$G$7, 1 ) ) ))

[#3]

Thank you so much! This worked.

[#4]

@Jpalaci1 , you are welcome