Question

QRINC offered new employees a starting salary of $51,468 in 2013. What would a comparable starting salary have been in 2003?

Answer 1

To adjust for inflation, we would need to use the Consumer Price Index (CPI) to convert the 2013 salary to its equivalent value in 2003. According to the Bureau of Labor Statistics, the CPI in 2013 was 233.049, and the CPI in 2003 was 183.958.

Using the CPI Inflation Calculator, we can determine that a comparable starting salary in 2003 would have been approximately $40,847.