Hi!
Does anyone know when the new salary takes effect? I checked workday this morning and see the incentive payment but I still see the old salary gross amount. I was expecting the raise to also kick in for this paycheck. Does anyone know?
Thanks!
New Pay Compensation, Paycheck Feb 17th as this would be for pay period first 2 weeks of February.
The new salaries are listed in WorkDay. Says it was effective as of 1/29. So maybe just a few days were paid at the raise amount.
TeamWorks---> HR Center (top line menu) ---> Workday ---> VIEW ALL APPS (right side of screen) ---> Personal Information (left side of screen) ---> "VIEW" box - About me ---> Compensation. That'll let you see your salary increase and the date it was effective.
No, the merit increase needs to be multiplied by 23/26 first, before being added to the old salary.
So if you got a $2000 merit increase, it’s [old salary] + $1769.23 + [bonus] for how much you will gross in the year 2023.
You can also do [old salary] * 3/26 + [new salary] * 23/26 + bonus, but that’s a few extra calculations to get the same result.
"[old salary] + ([$ value of merit increase]"...another way if saying "[new salary]"...
If you’re an employee who receives a bonus, your 3rd paycheck of the calendar year is always the bonus paycheck and the last paycheck your base salary gets paid at the old rate from before your latest merit increase. 4th paycheck (aka the one we get two weeks from this Friday) will be the first one where your new base salary will be in effect. An easy way to use this info to calculate what your total pay will be for the 2023 calendar year is [old salary] + ([$ value of merit increase] * 23/26) + [bonus]. Assuming you stay at your latest base pay rate until the next performance/comp cycle.
you may want to reach out to HR
I did not see my new salary under pay change history. I wonder if hr is updating it by batch. Anyone knows?
in workday go to your profile and select compensation then select pay change history, although your new salary should be showing and in pay change history you should see it changed on 1/29 as the first pull paycheck in Feb (2/17) will be based on that amount
Effective 1/29
Got it. Thank you!!!
It will be on 2-17 check