On an outcome survey, student and admin users can enter salary information with varying pay periods.
Selecting Pay Period:
- Base Salary, Guaranteed Bonus, and Other Guaranteed Compensation have a picklist menu that includes different pay periods to report compensation.
- The reported compensation of the outcome will then display on the Jobs and Job Offers tab of a student’s profile.
- When creating a Custom Outcome Report, attributes that correspond to salary information are displayed with a wrench icon.
- When the wrench icon is selected, admins can configure how they would like to display the salary data for this column on the report. Options include “as reported by students,” as well as the option to convert all reported pay period compensations to a single pay period type.
For example: Creating a Custom Outcome Report with “Base Salary” attribute set to “As Reported”...
...Will generate a report that displays the Base Salary as the student selected to report it on the outcome survey.
The image below displays Base Salary in the per year as well as the per hour pay period.
Selecting the wrench icon and setting the "Base Salary" attribute to a specific pay period, for example: Per Week...
...Will generate a report with converted Base Salary values to per week, regardless of the pay period that was selected by the student.
- The image below has converted all the the salaries to the per week pay period.
12Twenty calculates salary rates using the following conversion method.
Student "John Doe" has an hourly salary of $50. Therefore:
Hourly to Weekly = $50 x 40 hours/week = $2,000 Weekly
Weekly to Monthly = $2,000 x 4.3335 = $8,667 monthly
Hourly to Monthly = $50 x 173.34 hours/month = $8,667 monthly
Hourly to Yearly = $50 x 2080 hours/year - $104,000 yearly
- Pro tip: Total Compensation is the sum of the Base Salary and Other Guaranteed Compensation.