Percentile Rank Excel Formula for HR Analytics, Boost your Analytical Skills
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- Опубликовано: 11 сен 2024
- Looking to see where an employee’s pay ranks against existing salary ranges? Or want to calculate where a student’s grades rank against all others? The PercentRank formula in excel can do just that!
In this video I’ll go through an example of how to use the percent rank formula for compensation analysis, plus what you can do to make sense of this metric:
*After calculating percentile rank, I show how to use that to determine which quartile each employee falls into within their salary range. To see the first video explaining quartiles and how to calculate the quartile of a salary range, check out this video - • Excel Data Analysis: H...
*At 9:45: See a comparison of the percentrank formula vs. the position in range formula, which is covered in more detail in this video - • HR Compensation 101: P...
There is so much data analysis you can do with these quartiles and percentrank formulas! Stay tuned for the next video in this series where we’ll wrap it all up with a nice summary chart.
You can find the Sales Quota Commission Template used in the video HERE: timesavingtemp...
For more free resources and spreadsheet tips, visit timesavingtemp...
I am using Excel 2016 and the IFS function is not available, only IF. How would I set up the formula to tell me what quartile each employee is in. I have the top and bottom of each quartile defined for each salary range we have. I am just struggling to write the formula to tell me which quartile they are in. Thank you!
Ah, I figured it out! Thank you for this video!
@@penguinvsminja So glad you got it working! Yes, I hate that the IFS isn't in all excel versions, but there is a way to do 'nested' if, to get the same result with many parenthesis!