SUM of all values on a custom field

Question

I have a custom object and have a custom currency field called salary.

I want to find the sum of this salary field using a formula field.

Is this possible? I am not using master-detail and roll-us.

Thanks

Answer 1

No, it's not possible as described. You need to either

1. Alter your data model, using a master-detail field to make Roll-Up Summary Fields available.
2. Use a third-party application like Declarative Lookup Rollup Summaries.
3. Write Apex triggers to manually perform the rollups.

You won't be able to achieve this with formula fields or with purely declarative automation (unless you use a third-party product).