Question: Calculate the Variable Pay amount for this department. Variable pay is based on PPM (Personal Performance Multiplier) and CM (Corporate Multiplier). Any employees rated E
Calculate the Variable Pay amount for this department.
Variable pay is based on PPM (Personal Performance Multiplier) and CM (Corporate Multiplier).
Any employees rated E or VS also receive a $2000 bonus.
Assume today is April 1, 2023. Fiscal year is April 1st March 31st.
| Project Support Team | ||||||||||
| Employee Name | Grade | Position | Status | Salary | Performance rating | PPM% | CM% | Total % | Bonus | TOTAL Variable Pay |
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| Dan Davis | 5 | Sr Finance Analyst | F/T | $52,000.00 | S | 3% |
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| Rupinder Khan | 6 | Manager | F/T | $71,000.00 | VS | 4% |
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| Jeff Stockton | 2 | Co-ordinator | F/T | $32,000.00 | D | !% |
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| TOTAL |
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| Fiscal year April March |
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| Performance Ratings & Merit Pay %
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| E | Exceptional | 6% |
| VS | Very Strong | 4% |
| S | Standard | 3% |
| D | Developing | 1% |
| U | Unsatisfactory | 0% |
| Company Multiplier |
| 1.50% |
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