Calculate the merit pay increase and new base pay

Reference no: EM133609800

Question: At the end of the performance year, the employees are evaluated, and John receives a performance rating as 1. While John earns $50,000 a year, calculate the merit pay increase and new base pay after the merit pay increase? Based on the same merit pay increase scale stated above, John receives a performance rating as 1. While John earns $50,000 a year, calculate the merit bonus and the new base pay after the merit bonus? Scale is as follows: Well above average is a performance rating of 1 and merit pay increase of 5%. Above average is a performance rating of 2 and merit pay increase of 4%. Average is a performance rating of 3 and merit pay increase of 3%. Below average is a performance rating of 4 and a merit pay increase 2%. Well below average is a performance rating of 5 and merit pay increase of 1%

Reference no: EM133609800

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