Pay Raise Calculator
Determine your new salary and see how your income changes per pay period.
Percentage (%)
Flat Amount Increase
Monthly (12/year)
Semi-Monthly (24/year)
Bi-Weekly (26/year)
Weekly (52/year)
New Annual Salary:
Total Annual Increase:
New Paycheck Amount:
Increase Per Paycheck:
How to Calculate a Pay Raise
Calculating a pay raise involves determining the difference between your old salary and your new salary. This is usually expressed as either a percentage of your current base pay or a fixed dollar amount added to your annual earnings.
The Percentage Formula:
To calculate a percentage raise manually, use this formula:
New Salary = Current Salary × (1 + (Raise Percentage / 100))
Example: If you currently earn 60,000 per year and receive a 4% raise:
1. Convert 4% to a decimal: 0.04
2. Multiply: 60,000 × 0.04 = 2,400 (Your annual increase)
3. Add: 60,000 + 2,400 = 62,400 (Your new annual salary)
Common Pay Raise Percentages
- Cost of Living Adjustment (COLA): Usually 2% to 3%, designed to keep up with inflation.
- Standard Merit Increase: Typically 3% to 5% based on performance.
- Promotion/Role Change: Often 10% to 20% or more, depending on the change in responsibility.
Understanding Pay Frequency
When you receive a raise, it is helpful to know how it affects your individual paychecks. If you are paid bi-weekly, your annual raise is divided by 26. If you are paid semi-monthly (usually the 15th and 30th), it is divided by 24.