Base Rate - Percent Change

This action type supports merit, COLA, or other increases to the base rate expressed as a percentage based on the current pay rate. It is included in the salary calculation and updates the current pay rate. This action tracks the change in salary.

This action type is spread across the budget year.

When this action is applied, a percent must be specified (for example, 5.25). You can specify a positive or negative number.

End dates are not allowed.

Example

Assuming an even monthly spread method (Period's Spread Factor/Total Spread Factors) = 1/12

Percent increase = 12%
Salary = $12,000
Base FTE = 1
Base Hourly Rate = $10
Base Hours = 40
Pay Periods = 52

The calculation rule for a salaried position is:

Percent * Salary * Base FTE * (Period's Spread Factor / Total Spread Factors)

12% * $12,000 * 1 * (1/12) = $120 per period

The calculation rule for an hourly position is:

Percent * Current rate * Current Base Hours * Pay Periods* (Period's Spread Factor/Total Spread Factors)

12% * $10 * 40 * 52 * (1/12) = $208 per period