';res+='Raise Amount (Annual): $'+raiseAmt.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2})+'
';res+='Percentage Increase: '+raisePct.toFixed(2)+'%
';if(showSteps){res+='
';res+='Monthly Pay: $'+(newAnnual/12).toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2})+'
';res+='Bi-Weekly Pay: $'+(newAnnual/26).toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2})+'
';res+='Hourly (2080 hrs): $'+(newAnnual/2080).toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2})+'
';}res+='
Calculator Use
This raise calculator is designed to help employees and employers quickly determine the impact of a salary increase. Whether you are preparing for a performance review, evaluating a job offer, or calculating a cost-of-living adjustment (COLA), this tool provides an instant breakdown of your new earnings across multiple pay frequencies.
You can calculate your raise using three different methods: by applying a percentage increase, by adding a flat dollar amount, or by comparing your old and new salaries to see the percentage change.
- Current Salary / Old Salary
- The amount you currently earn before the raise is applied. You can enter this as an annual total or an hourly wage (select the frequency below).
- Raise Percentage (%)
- The percentage increase you expect to receive (e.g., a 3% merit increase).
- Raise Amount ($)
- The flat dollar amount being added to your current salary.
- Pay Frequency
- Specify if your input is Annual, Monthly, Bi-weekly, or Hourly to ensure accurate calculations.
How It Works
When you receive a salary increase, the math depends on which variables you already know. The raise calculator uses standard accounting formulas to solve for the missing pieces of your compensation package.
New Salary = Current Salary × (1 + (Raise % / 100))
- Percentage Increase: To find the new total, we convert the percentage to a decimal, multiply it by the base salary, and add that to the original amount.
- Flat Raise: Simply add the dollar raise to the current salary. The calculator then back-calculates the percentage for your records.
- Percentage Change: If you know your new salary but not the percentage, we use: ((New – Old) / Old) × 100.
Raise Calculation Examples
Scenario 1: Annual Merit Increase
An employee earning $65,000 per year is granted a 4% merit raise for high performance.
- Current Salary = $65,000
- Raise Percentage = 4% (0.04)
- Calculation: $65,000 × 0.04 = $2,600 (Raise Amount)
- New Salary: $65,000 + $2,600 = $67,600
Scenario 2: Hourly Wage Raise
A retail worker earning $15.00 per hour receives a flat $1.50 raise per hour.
- Current Wage = $15.00/hr
- Raise Amount = $1.50/hr
- New Wage = $16.50/hr
- Percentage Calculation: ($1.50 / $15.00) × 100 = 10% raise
Common Questions
What is a standard annual raise?
Historically, a "standard" or average raise falls between 3% and 5%. However, this can vary wildly based on the industry, company performance, and the current rate of inflation. Merit-based raises for top performers often exceed 5-10%, while cost-of-living adjustments are usually tied to the Consumer Price Index (CPI).
Does the raise calculator account for taxes?
This tool calculates gross pay (pre-tax). Your actual take-home pay will depend on your local tax bracket, federal withholdings, social security contributions, and healthcare deductions. Always remember that a $5,000 gross raise will result in a lower net increase in your bank account.
How often should I ask for a raise?
Most professional environments conduct salary reviews annually. However, if your responsibilities have significantly increased or you have completed major certifications that increase your market value, you may consider initiating a negotiation after 6 months. It is important to use a raise calculator to know exactly what dollar amount you are asking for before entering the meeting.
What is the difference between a raise and a bonus?
A raise is a permanent increase in your base salary that compounds over time. A bonus is a one-time payment. While a $5,000 bonus is great for immediate cash flow, a $5,000 raise is more valuable long-term because it increases your baseline for future percentage-based raises and often increases employer matching for 401(k) plans.