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If someone is hired on January 1st for 30k a year then I know they will be paid 30k by next Jan 1st, but what if they were hired Feb 14th? How much will they be paid by January 1st the next year?
How do I figure that?
If someone is hired on January 1st for 30k a year then I know they will be paid 30k by next Jan 1st, but what if they were hired Feb 14th? How much will they be paid by January 1st the next year?
How do I figure that?
I'm a little fuzzy on what you are trying to accomplish with your sheet so I'll just give you a quick answer that maybe you can apply...
if you have in A2 a hire date and in B2 an amount paid this in C2 should work...
=B2*((DATE(2018,1,1)-A2)/365)
so if the hire date is 1/1/2017 and annual amt pd is $30,000 then in 1/1/2018 the amt pd would be 30,000
if hired on 2/14/2017 at 30k the amt pd on 1/1/18 would be 26383.56
is that what you are looking for?
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Sam Capricci
This will do the calculation but there are a bunch of assumptions because you did give not give any detail about how pay is calculated:
Formula:
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Assumptions:
Employee pay is based on a workweek of Mon-Fri
Employees are paid for any holidays and other time off, so all weekdays in the year are counted as "working days"
Employee pay is prorated per working day based on the hire date
This formula has the year hard-coded so works only for 2018 hire dates.
Many variables to handle here.
How many days per year do they work?
Are there variations on pay for weekends etc.?
Not trying to over complicate, and hopefully Sam or Jeff's answers above solve the issue, but having worked in a complex salary department in the past I know this sort of calculation is never straightforward.
BSB
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