Pay increase calculator

Pay raise calculator

The pay raise calculator will help you calculate your new pay and give an insight into how much your salary is going to increase. Given the current salary, the new salary rate, increase amount or the increase percentage.

How to calculate a salary increase with a percentage?

To calculate a salary increase with a percentage, you divide your current salary by 100 and multiply by the percentage of your raise. For example, a 3% raise on a $40.000 annual salary is an extra $1.200, making the new annual salary $41.200.

Increase = Current pay / 100 × Raise percentage

How to calculate a percentage increase in salary?

To calculate your salary raise as a percentage, you divide your raise amount by your current pay and multiply by 100.

Percentage = raise amount / current pay × 100

Example: You want to know how a $1 increase would affect your current pay of $20 per hour, the percent increase formula would look like this: 1 / 20 × 100 = 5%

How to calculate a salary increase with a fixed amount?

To calculate a fixed increase in your pay rate, you can just add the amount to your current salary.

How to calculate your yearly salary?

To calculate your yearly salary, you multiply the new hourly salary by the number of hours a week and then multiply it by 52 (weeks per year).

Yearly salary = hourly rate × hours a week × weeks per year

How often should you get a pay raise?

Many employers offer an annual pay increase, but this can also be given more or less often. A pay increase can also be based on employee performance, promotions, job changes or a company performance based raise. Many employers typically give an annual pay increase of around 3% because the cost of living rises.