Your new annual salary will be: —
Your total annual increase will be: —
Understanding How to Calculate Your Wage Increase
Calculating a potential wage increase is a fundamental aspect of career progression and financial planning. Whether you're seeking a raise, evaluating a job offer, or simply curious about your earning potential, understanding the math behind it is crucial. This calculator helps you quickly determine your new salary and the exact amount of your increase based on your current earnings and a desired percentage.
The Formula Explained
The calculation is straightforward and involves two main steps:
Calculate the Increase Amount: This is done by multiplying your current annual salary by the desired percentage increase (expressed as a decimal).
Increase Amount = Current Annual Salary × (Desired Increase Percentage / 100)
Calculate the New Annual Salary: This is found by adding the calculated Increase Amount to your Current Annual Salary.
New Annual Salary = Current Annual Salary + Increase Amount
Alternatively, you can calculate the new salary directly by multiplying your current salary by (1 + the desired percentage increase as a decimal):
New Annual Salary = Current Annual Salary × (1 + (Desired Increase Percentage / 100))
Example Calculation
Let's say your current annual salary is $60,000 and you are aiming for a 7% raise.
So, a 7% increase on a $60,000 salary results in a new annual salary of $64,200, with a total increase of $4,200.
When to Use This Calculator
Negotiating a Raise: Quantify the impact of your desired salary increase.
Evaluating Job Offers: Compare potential salaries from different offers.
Performance Reviews: Understand the financial outcome of achieving performance targets.
Personal Financial Planning: Project future income and set financial goals.
This calculator provides a clear and immediate view of your potential salary adjustments, empowering you to make informed decisions about your career and finances.
function calculateWageIncrease() {
var currentSalaryInput = document.getElementById("currentSalary");
var desiredIncreasePercentageInput = document.getElementById("desiredIncreasePercentage");
var newSalaryResultDisplay = document.getElementById("newSalaryResult");
var increaseAmountResultDisplay = document.getElementById("increaseAmountResult");
var currentSalary = parseFloat(currentSalaryInput.value);
var desiredIncreasePercentage = parseFloat(desiredIncreasePercentageInput.value);
// Clear previous results and styling
newSalaryResultDisplay.textContent = "–";
increaseAmountResultDisplay.textContent = "–";
increaseAmountResultDisplay.style.color = "#28a745"; // Reset to default green
// Input validation
if (isNaN(currentSalary) || currentSalary <= 0) {
alert("Please enter a valid current annual salary (a positive number).");
return;
}
if (isNaN(desiredIncreasePercentage) || desiredIncreasePercentage 0) {
increaseAmountResultDisplay.style.color = "#28a745"; // Success Green
} else {
increaseAmountResultDisplay.style.color = "#dc3545"; // Danger Red for zero or negative increase
}
}