What is a rate change?

The rate change is the percent to increase or decrease the current rate.

For example, the city authorizes a 5% pay increase for all hourly employees. Jane uses this option to increase the hourly rate by 5%. For example, if an employee earns $10.00 per hour, then this routine will calculate 10 x 0.05 = 0.50. Next, the routine adds the current hourly rate to the calculated amount, like this 0.50 + 10.00 = 10.50. Now, the new hourly rate for the current employee is 10.50.

What is the rate change?

I want to increase the rate. Use the Rate Change field to enter a percent. Do not key the decimal. Example: 10
I want to decrease the rate. Use the Rate Change field to enter a percent, then enter the minus ( - ) sign. Do not key the decimal. Example: 10-