Salary Range Calculator is a software which helps you in determining the salaries of different professionals and employees. Salary ranges are based on various factors like performance, experience, education, etc. This helps you in calculating the salary required for a particular position. It is very helpful when compared to manual calculation of salaries.
Salary Range Calculator Template is an ideal tool for any business to calculate minimum, maximum and average salaries according to various factors. Salaries are important to know for different types of jobs and therefore companies require to make them known to their new employees so that they can choose the best. Using Salary Range Calculator, companies can calculate the salaries of their employees according to their job profiles. Moreover, it is also helpful for companies who want to select the best performing employees for different positions.
Salary Range Calculator Template
Salary Range Calculator helps you in knowing the exact amount to be paid for a particular job grade. This information can be very helpful for all types of businesses who require to provide base salaries to their new recruits. Using this, companies are able to calculate the starting salaries of their new employees and compare it with the existing market salary level. By default, most salary rate calculators will allow users to calculate the starting salary of the job level by selecting the job grade from the start salary option.
When you select the job grade from the start salary option, the following will be displayed on the screen: Starting salaries, weekly starting wages, annual starting wages, and the level of productivity required for each job grade. After selecting the type of salary ranges, you will get to see the results of the previous calculations. Using this, companies can now see the difference between their starting salaries and those of their competitors.
Download Salary Range Calculator Excel Template
You can also use the Salary Range Calculator to know about the different maximum pay that you can get as per your contract with the company. Most companies offer various contracts and these may not stipulate a maximum pay for the job. In fact, some may not even define the maximum pay for the job at all. However, most companies do provide for a starting salary of a certain level above which the employee is entitled to increase his salary according to the productivity and efficiency level as determined by them. Most of the time, companies base the starting level of the salary range on the employee performance appraisal score that is conducted for every individual.
To know more about the salary structure in a company, you can also calculate the market salary range for that particular company. For this, you need to enter the data that is required in the field provided in the form. The formula for the market salary range is based on the number of years of experience, the level of education that you have attained, as well as your geographic location. It is also assumed that the gender and the age of the employee are also taken into consideration. Hence, by using the salary range calculator, you will be able to determine the market salary range for a particular company.