1. What is the Salary Increase Calculator?

The Salary Increase Calculator helps you determine your new salary after a percentage-based raise. It's useful for employees evaluating job offers or raises, and employers determining salary adjustments.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Old Salary — Current salary before increase
• Rate — Percentage increase (e.g., enter 5 for 5%)

Explanation: The formula calculates the new salary by adding the percentage increase to the original salary.

3. Importance of Salary Calculation

Details: Understanding how percentage increases affect your salary helps in financial planning, negotiation, and comparing job offers.

4. Using the Calculator

Tips: Enter your current salary and the percentage increase you're expecting or have been offered. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Does this calculator account for taxes or deductions?
A: No, this calculates gross salary only. Net pay would be lower after taxes and deductions.

Q2: How do I calculate a salary decrease?
A: Enter a negative percentage (e.g., -10 for a 10% decrease).

Q3: What if I get multiple raises in a year?
A: You would need to apply each raise sequentially to see the cumulative effect.

Q4: How does compounding work with annual raises?
A: Each raise builds on the previous salary. For example, two 5% raises is slightly better than one 10% raise.

Q5: Can I use this for hourly wage calculations?
A: Yes, it works the same way for hourly wages as it does for annual salaries.