function calculateRaise() {
var currentPay = parseFloat(document.getElementById('currentPay').value);
var payBasis = document.getElementById('payBasis').value;
var raiseValue = parseFloat(document.getElementById('raiseValue').value);
var raiseType = document.getElementById('raiseType').value;
if (isNaN(currentPay) || isNaN(raiseValue)) {
alert('Please enter valid numerical values for current pay and raise.');
return;
}
var annualCurrent = 0;
var hourlyCurrent = 0;
var monthlyCurrent = 0;
// Convert current pay to annual for baseline
if (payBasis === 'annually') {
annualCurrent = currentPay;
hourlyCurrent = annualCurrent / 2080;
monthlyCurrent = annualCurrent / 12;
} else if (payBasis === 'hourly') {
hourlyCurrent = currentPay;
annualCurrent = currentPay * 2080;
monthlyCurrent = annualCurrent / 12;
} else if (payBasis === 'monthly') {
monthlyCurrent = currentPay;
annualCurrent = currentPay * 12;
hourlyCurrent = annualCurrent / 2080;
}
var increaseAmt = 0;
if (raiseType === 'percentage') {
increaseAmt = annualCurrent * (raiseValue / 100);
} else {
// If amount is provided, we assume the amount is relative to the pay basis
if (payBasis === 'annually') increaseAmt = raiseValue;
if (payBasis === 'hourly') increaseAmt = raiseValue * 2080;
if (payBasis === 'monthly') increaseAmt = raiseValue * 12;
}
var annualNew = annualCurrent + increaseAmt;
var monthlyNew = annualNew / 12;
var hourlyNew = annualNew / 2080;
// Update display
document.getElementById('newTotal').innerText = '$' + annualNew.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('increaseAmt').innerText = '$' + increaseAmt.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('oldAnnual').innerText = '$' + annualCurrent.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('newAnnual').innerText = '$' + annualNew.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('oldMonthly').innerText = '$' + monthlyCurrent.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('newMonthly').innerText = '$' + monthlyNew.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('oldHourly').innerText = '$' + hourlyCurrent.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('newHourly').innerText = '$' + hourlyNew.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('raiseResult').style.display = 'block';
}
How to Use the Pay Raise Calculator
Negotiating a salary increase or receiving an annual merit raise is a significant milestone in your career. This tool helps you visualize exactly how much more money you will see in your paycheck, whether you are discussing a percentage-based bump or a fixed dollar amount.
Step-by-Step Instructions
Current Pay: Enter your current gross salary (before taxes). You can enter this as an annual, monthly, or hourly figure.
Pay Basis: Select the time frame that matches your "Current Pay" input.
Raise Increase: Enter the number representing your raise.
Raise Type: Choose whether that number is a percentage (e.g., a 3% cost-of-living adjustment) or a flat dollar amount (e.g., a $5,000 promotion increase).
Understanding Your Raise
When you receive a raise, it affects more than just your annual bottom line. It impacts your hourly rate, your overtime calculations, and your monthly budget. Our calculator uses the standard 2,080-hour work year (40 hours per week for 52 weeks) to estimate hourly conversions.
Example Calculation
If you currently earn $60,000 per year and receive a 5% raise:
Increase Amount: $60,000 × 0.05 = $3,000
New Annual Salary: $63,000
Monthly Increase: $250 per month
Hourly Increase: ~$1.44 per hour
Tips for Negotiating a Higher Salary
If you are using this calculator to prepare for a performance review, consider these three professional tips:
Research Market Rates: Use sites like Glassdoor or Payscale to find out what others in your role and city are earning.
Quantify Your Value: Don't just list your duties; list your achievements. Use numbers (e.g., "Increased sales by 20%" or "Saved the company 10 hours of manual labor per week").
Consider the Full Package: If the company cannot meet your desired salary, consider negotiating for more vacation time, remote work flexibility, or professional development stipends.
Frequently Asked Questions
Is the "New Total" before or after taxes?
The calculator provides gross figures (before taxes). Your actual take-home pay will depend on your local tax laws, 401k contributions, and insurance premiums.
What is a typical annual raise?
While it varies by industry, many companies offer between 3% and 5% for standard performance-based increases or cost-of-living adjustments.