Formula for compensation plan

[pmac1592]

Hey guys and girls,

I have been trying to come up with a formula for my comp plan for my team for some time now and I just can’t figure it out. I work in the staffing industry and we get paid off the weekly “spread” that we generate based on our placements. We get paid a percentage of that weekly spread every week. We get paid 4% up to $5000, 6% up to $10,000, 8% up to $15,000, and 10% up above $15,000 with no cap. It is tiered so once you go above a tier only whatever dollar amount you are above you get paid the corresponding percentage.

Can someone help me out with the formula for this?

[FlameRetired]

Hello pmac1592. Welcome to the forum.

No sense in me re-inventing the wheel. Here is a link addressing exactly those types of formulas.
http://www.mcgimpsey.com/excel/variablerate1.html