1. What is a Salary Raise Calculator?

The Salary Raise Calculator helps you determine your new salary after a percentage increase. It calculates both the new salary amount and the actual raise amount in dollars.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Current Salary — Your current annual salary before the raise
• Raise Percentage — The percentage increase in decimal form (e.g., 5% = 0.05)

Explanation: The formula multiplies your current salary by 1 plus the raise percentage to calculate your new salary.

3. Importance of Salary Raise Calculation

Details: Understanding your new salary after a raise helps with financial planning, budgeting, and evaluating job offers or promotion opportunities.

4. Using the Calculator

Tips: Enter your current salary in dollars and the raise percentage (e.g., for 5% raise, enter 5). The calculator will show your new salary and the raise amount in dollars.

5. Frequently Asked Questions (FAQ)

Q1: Should I enter the raise percentage with or without the % sign?
A: Just enter the number (e.g., for 5% raise, enter 5). The calculator will automatically convert it to decimal.

Q2: Does this calculator account for taxes or deductions?
A: No, this calculates gross salary before any deductions. Your actual take-home pay may be different.

Q3: Can I use this for hourly wage increases?
A: Yes, if you enter your annualized current salary (hourly rate × hours per week × 52 weeks).

Q4: How do I calculate my new monthly pay?
A: Divide the new annual salary by 12 (for monthly) or by 26 (for bi-weekly) pay periods.

Q5: What if my raise is a flat dollar amount instead of percentage?
A: Simply add the flat amount to your current salary - no need for this calculator.