In this article, I will walk through how to use our Salary Structure calculator template to generate a Salary structure for your organization.
If you would like to learn more about what a salary structure is, please visit 'Salary Structure Explained'
A salary structure can be created in multiple ways. It is like a mathematical equation. If we know the minimum and maximum salary of a grade, we can calculate midpoint and the spread. On the other hand, if we are given midpoint and spread, we can calculate the minimum and maximum salaries. So, depending on what you would like to control, you can choose the inputs and the rest can be calculated through formulas.
The template supports 5 input methods or scenarios.
Regardless of the scenario you choose, the steps are the same.
1. Choose Scenario
2. Enter inputs relevant to the scenario
3. View the automatically created salary structure.
Enter relevant inputs
Number of Grades and Currency are required inputs.
Currency can be either the symbol (example $ for U.S Dollars) or the currency abbreviation (that is USD)
Depending on the scenario chosen, you will have more inputs to enter.
First scenario (Lowest Midpoint, Midpoint Differential %, Spread %)
For example, when we choose first scenario, those three inputs need to be entered as shown below.
Output Salary Structure
When the inputs are entered, the salary structure is automatically created. The following are part of the salary structure or pay structure.
Salary structure Table with all the calculations involved at a grade level.
Salary Ranges by Grade presented in a chart with vertical style of display.
Salary Ranges by Grade presented in a chart with horizontal style of display.
Salary Midpoints by Grade presented in a chart along with Midpoint Differential %.
Salary Ranges by Grade presented in a chart along with Spread %.
Salary Ranges by Grade presented in a chart along with Overlap %.
The Salary structure can be printed or exported to PDF as usually done in Excel.