Increase in Salaries

Options
Brian D
Brian D Registered Posts: 15 New contributor 🐸
in General accounting discussion
We are having an increase in salaries of 1.3%. Could somebody just confirm that I have done this right?

Current basic £25,144

New Basic (@1.3%) £25,898 ie 25144/100*103 Is this right?

Increase of £754


Many thanks
Brian

Comments

  • andrewtdk
    andrewtdk Registered Posts: 150 Dedicated contributor 🦉
    Options
    isnt that an increase of 3%. I think it wants to be /100*101.3
  • sdv
    sdv Registered Posts: 585 Epic contributor 🐘
    Options
    that is 3%

    the correct multiplication should be 25144/100*101.3= 25 471

    and increase of £327 (25144 x 1.3%)

    hope this helps
  • Brian D
    Brian D Registered Posts: 15 New contributor 🐸
    Options
    Oh of course you are right!! I'm so stupid!! Thank you for that
  • PGM
    PGM Registered Posts: 1,954 Beyond epic contributor 🧙‍♂️
    Options
    I think you should give the increase back if you can't work that out ;)

    But seriously, I'd be happy with 1.3%. Got acca and it's the first year of not getting an increase, thankyou bankers!

Categories

Privacy Policy