tracker template · Free download
Compensation Review Tracker
A compensation review tracker to run your annual pay cycle — track proposed increases, budget spend, compa-ratios, and approvals in one consistent place.
Updated
Sign in with Google below to download the PDF and CSV straight away.
Get your free download
Sign in with Google to unlock the PDF and CSV instantly. No form to fill in.
Free. By continuing you agree to our terms and privacy policy. We record your email and this download; marketing emails only if you tick the box.
What you get
- A per-employee review tracker with current pay, proposal, and new pay
- Built-in budget burndown so you never overspend the merit pool
- Compa-ratio and percentage-increase columns for calibration
- An approval-status workflow from manager to finance sign-off
Template preview
A preview of the structure. Download the PDF or CSV for the complete, ready-to-use version.
Cycle details
- Review cycle— e.g. FY26 annual review
- Effective date
- Total merit budget— e.g. 4% of payroll
- Approver
Review tracker
| Employee | Band | Current salary | Proposed increase % | New salary | New compa-ratio | Status |
|---|---|---|---|---|---|---|
| Sample, A. | B3 | 110,000 | 5% | 115,500 | 97% | Approved |
| Sample, B. | B2 | 80,000 | 8% | 86,400 | 102% | Pending finance |
Budget burndown
| Metric | Amount |
|---|---|
| Total merit budget | |
| Spent so far | |
| Remaining | |
| Average increase % |
Calibration checks
- No high performer left below band midpoint without a plan
- Increases distributed by performance, not tenure or favouritism
- Pay-equity gaps reviewed before finalising
- Total spend within the approved budget
Tip: run a calibration session across managers before approvals lock. It surfaces inconsistent rating-to-increase logic and the equity gaps a single-manager view always misses.
This is a preview — the full template continues in the download.
Sign in above to download the full template.
How to use this template
- 1
Load your population
Add every eligible employee with their current salary, band, and last increase date.
- 2
Enter proposals
Capture each manager's proposed increase and let the tracker calculate the new salary and compa-ratio.
- 3
Calibrate to budget
Watch the running budget total and adjust proposals so the cycle lands within the approved pool.
- 4
Route for approval
Update the status column as each change moves through manager, HR, and finance approval.
Frequently asked questions
What is a typical merit increase budget?
Annual merit budgets commonly land between 3% and 5% of payroll, varying by market conditions and inflation. Top performers should receive meaningfully more than the average, funded by lower increases elsewhere.
How do I keep the cycle fair?
Calibrate across managers before approvals, tie increases to documented performance, and run a pay-equity check on the proposed numbers so a bias-free spreadsheet doesn't produce a biased outcome.
Should compa-ratio drive the increase?
It should inform it, not dictate it. A strong performer low in their band warrants a larger increase to move toward midpoint; a topped-out employee may need a promotion rather than another raise.