1. What is the Salary Raise Calculator?

The Salary Raise Calculator helps you determine your new salary after a percentage-based raise. 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 your salary (as a decimal)

Explanation: The formula takes your current salary and increases it by the specified percentage to calculate your new salary.

3. Importance of Salary Raise Calculation

Details: Understanding how raises affect your salary helps with financial planning, negotiation, and career decision-making.

4. Using the Calculator

Tips: Enter your current salary in dollars and the raise percentage (e.g., for 5% enter 5). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Should I enter the raise percentage as a decimal or whole number?
A: Enter it as a whole number (e.g., for 5% raise, enter 5 not 0.05).

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

Q3: Can I use this for hourly wages?
A: Yes, but you'll need to calculate annual salary first (hourly wage × hours per week × 52 weeks).

Q4: How do I calculate the equivalent hourly rate after a raise?
A: Divide the new annual salary by the number of working hours in a year.

Q5: What if my raise includes both percentage and fixed amount?
A: First calculate the percentage raise, then add any fixed amount to the result.