Some more calculations:-
Year 1 start salary=X (which we're all agreed is not enough)
Jan02 increase salary=X+2.2%X
Oct02 increase salary=X+2.2%X+2%(X+2.2%X)
Jan03 increase
salary=X+2.2%X+2%(X+2.2%X)+3.7%(X+2.2%X+2%(X+2.2%X))
Still with me?
Dec03 increase
salary=X+2.2%X+2%(X+2.2%X)+3.7%(X+2.2%X+2%(X+2.2%X))+1.8%(X+ 2.2%X+2%(X+2.2%X)+3.7%(X+2.2%X+2%(X+2.2%X)))
So there you have it!
I agree with fishfood that the 1.8% is not really a salary increase, however at the end of the 24 month period the above shows how much your salary will have gone up by. And no doubt it will stay at that level for a few months while the next pay round drags on.
Those of you who are still travelling up the ladder will have to change your Xs to Ys in year one after April and the Ys to Zeds in year 2!
