How do I create formulas to link a certain job type to a specific salary range or hourly rate on my HR app?

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When I add new employees I want their rates or salary to come up when I select their job type. 

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Create a Formula Field - Text.  Inside it, put.

Case([Job Type],

That's it!  [Job Type] refers to the field which contains the name of the job.  Where you see "contractor, electrician, etc" you will put your assortment of jobs, feel free to add as many as you would like.  And of course, replace the $ with whatever.
no problem.  You just need to set up a relationship between the two tables.

Here is some hep

You will need a table for the Job types which has generic info about the Job like the Job name and the pay range.

Make a Relationships where 1 Job Name has many Employees.  Be sure that the first lookup field you add is the Job Name.  That way it will automatically configure itself on the field Related Job  as the "Proxy" field - a human friendly reference  to the Job record.  Then add any other lookup fields such as the pay range and rename them if you like. 

Then add the field for Job Name to your employee form along with any other lookup fields like Pay Range.  That "Proxy field" of Job name  will act as Job Name in View mode on the form and on reports but it will act like Related Job in Edit, Grid Edit, and and Add mode.

Then add that field Job name to your employee form.