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# Merit Increase Schedule Formula

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?

3 Replies
best response confirmed by Jpalaci1 (Contributor)
Solution

# Re: Merit Increase Schedule Formula

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 ) ) ))``

# Re: Merit Increase Schedule Formula

Thank you so much! This worked.

# Re: Merit Increase Schedule Formula

@Jpalaci1 , you are welcome