rate staff for bonus in Excel

Q62. I have to determine bonus for my staff based on ratings (for each rating, specific bonus amount). In Excel, how can I set up my Bonus Table?

For example in the table below I have the ratings of all my staff. I would like to set up the table for automatic bonus calculation based on the ratings -

Ratings 1 - $1200, 2 - $800, 3 - $400 and 4 - $0.

excel rate staff for bonus

To do it in Excel, here is the answer:

a) Enter the formula =CHOOSE(U4,1200,800,400,0) in "Bonus" column for first employee. Drag the formula all the way down to end of column.

The first argument is the Index to choose from one among many values entered in the subsequent section of formula.

For example, for the first employee, rating is 2. Hence second value 800, from among the set of values (1200, 800, 400, 0) is selected by formula.

excel excel rate staff for bonus


You can find similar Excel Questions and Answer hereunder

1) How do I get the principal part of loan payment for the year given Loan amount, Rate of Interest and period?

2) How can I enter multiple lines of data in a cell?

3) How can I quickly navigate to a frequently used field in a voluminous worbook?

4) How can I ensure that important files always appear on the recent Excel workbooks list?

5) Can I add a Text histogram to Table data to make it visually appealing and easy to interpret?

6) I have to make an investment decision - I have the cashflow numbers. In Excel, how do I calculate Internal Rate of Return (IRR)?

7) How can I have text autocomplete by typing in a short code for the text?

8) How can i filter multiple columns simultaneously in Excel

9) Keyboard shortcut for save as in Excel

10) I frequently use a Macro - is there a way to quickly access the Macro in the Excel Ribbon?

11) How can I find the day of the week given a date?

12) How do I calculate monthly payment given Loan amount, Rate of Interest and period?

13) How can I clear cell after activating a routine when there is a change in value of a cell?

14) How can I have text autocomplete based on values previously entered in Column?

15) I want to add a trend indicator symbol next to my sales data - how can I do that?