How to use
- Pick hourly or salary and enter your current pay.
- Enter the raise as a percent, a dollar amount or the new pay you were offered.
- Read the new rate, the increase, the percent and the weekly, monthly and annual impact.
Worked example: A 5% raise on $20 an hour
5% of $20.00 is $1.00, so the new rate is $21.00 an hour. At 40 hours a week that is $40.00 more per week, $173.33 more per month and $2,080.00 more per year.
Entered the other way, a raise from $20.00 to $21.00 is 5.00%, and a $1.50 raise would be 7.50%.
Frequently asked questions
How is the percent calculated when I enter a new rate?
Increase divided by the current pay, times 100. $20.00 to $22.00 is $2.00 ÷ $20.00 = 10%.
Is the annual impact before tax?
Yes. These are gross figures. Taxes take a share of every raise; use the paycheck calculator for net.
What is a typical annual raise?
Cost-of-living adjustments are often 3 to 4%, merit raises 3 to 5%, and promotions 10% or more. It varies by employer and year.
Can I enter a salary instead of an hourly rate?
Yes. Switch to salary and the raise is applied to the annual figure.
Can the raise be negative?
Yes. Enter a negative percent or amount to model a pay cut.
How is monthly computed?
Annual increase divided by 12, and weekly is annual divided by 52.