Question

Jill receives a salary raise of 3.5% each year for 8 years. In her 9th year with the contractor she works for, she decides to switch from full-time to 75% time. She receives her 3.5% raise as usual, and her salary will be \$61,725.42. What was Jill’s starting salary

1. Jill’s starting salary was = 44442.38
percent raise received by Jill every year = 3.5%
After 9 years,
her salary will be = 61725.42
Increment received by Jill = 3.5 % × 61725.42
= 3.5 /100 × 61725.42
= 2160.38
Increment received by Jill in 8 years = 2160.38 × 8
= 17283.04
Starting salary of Jill = 61725.42 – 17283.04
= 44442.38

### Why Employee Raises are Important?

Employers have taken notice. According to another recent survey by PayScale, 85 percent of companies plan to give raises to employees in 2020 (though 71 percent of those planning to give raises are offering a 3 percent or less increase).
Plus, employees who feel good about their salaries tend to work harder, and show more loyalty to their companies. It’s important to make sure your employees feel valued for their time and efforts to grow your business.