🔍 Salary Increase Calculator
Calculate your new salary after a raise and see your pay increase breakdown.
New Annual Salary
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Understanding Salary Increases
How Salary Raises Work
A salary raise is typically expressed as a percentage of your current salary. A 5% raise means you'll earn 5% more than your current compensation.
The Formula
Common Raise Benchmarks
- Cost of Living (2-3%): Keeps pace with inflation.
- Merit Increase (3-5%): Reward for good performance.
- Promotion (10-20%): Moving to a higher position.
- Exceptional (15%+): Outstanding achievements or retention offers.
- Know Your Worth: Research market rates for your role.
- Document Achievements: Quantify your contributions.
- Timing Matters: Ask after successful projects or performance reviews.
❓ Frequently Asked Questions
How is a salary raise calculated?
A salary raise is calculated by multiplying your current salary by the raise percentage (as a decimal). New Salary = Current Salary × (1 + Raise%/100).
What is a typical annual salary increase?
Typical annual increases range from 2-3% for cost-of-living adjustments to 3-5% for merit-based raises. Promotions can lead to 10-20% increases.
🔍 Authoritative References
For more information about business and financial calculations, consult these trusted sources:
- U.S. Small Business Administration - Official resources for business planning and financial management
- Bureau of Labor Statistics - Authoritative economic and employment data
- Federal Reserve Economic Data - Comprehensive U.S. economic statistics