Hello, let me start off by saying that I've only recently begun my journey to learn & master STATA. I used it in a couple of college courses years back, and I'm now introducing it to a small(er) business that I work for. Having said that, I'm in the midst of reading through the manual, YouTube, and trial and error as we speak. The potential complexity of the problem below, however, is a little intimidating, so I'm hoping for a some direction if possible. Anything at all is very much appreciated!
The data first and them some background/context:
Array
(Hopefully, you can view/read that excel snippet ok. That seemed cleaner/easier than the 4 spaces format, but please let me know if that's not the case and I'll fix.)
So I work in the service industry where pay rates are delineated by P6, P5, P4, etc. These employees are then billed out at a rate that is also tied to their "staff type". The ratio of bill rate to pay rate is each employee's "multiplier". Our goal is to keep this "multiplier" between 3.70 and 3.90. The problem I've been tasked with solving, is when it will be necessary to move someone up a staff type (i.e. P5 to P6) based on reaching the upper limits of the multiplier allowance. Starting with their current base pay, we assume a 4% yearly raise and no change in bill rates. The goal will be to forecast out 5+ years, but if I can get a grip on a couple of years I think the logic should hold.
That brings us to the present. I assume there are two variables here that will come into play - hourly rate and staff type. And I'm assuming there is a time piece (if possible?) that will involve moving across years. Frankly, I'm not finding anything terribly pertinent throughout the YouTube videos, but I've also not checked every single one surely. So as I said, any direction would be greatly appreciated. Inisght, suggestions, comments, etc.
Thanks in advance!
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