1. What is the Salary Growth Calculator?

This calculator projects your salary after 10 years based on a consistent annual increase rate. It's particularly useful for Filipino professionals planning their financial future and career growth.

2. How Does the Calculator Work?

The calculator uses the compound growth formula:

Where:

• Old Salary — Your current salary in Philippine Pesos (PHP)
• Rate — Expected annual salary increase percentage
• 10 — Number of years for projection

Explanation: The formula accounts for compound growth, meaning each year's increase builds on the previous year's salary.

3. Importance of Salary Projection

Details: Understanding potential future earnings helps with financial planning, loan applications, investment decisions, and career path evaluation in the Philippine context.

4. Using the Calculator

Tips: Enter your current salary in PHP and expected annual increase rate (%). For realistic projections, research industry-standard raise percentages in the Philippines.

5. Frequently Asked Questions (FAQ)

Q1: What's a typical annual salary increase in the Philippines?
A: Typically 3-5% for regular increases, but promotions can bring 10-20%. Some industries like IT may see higher rates.

Q2: Does this account for inflation?
A: No, this shows nominal growth. For real growth, subtract inflation rate from your annual increase percentage.

Q3: How accurate is this projection?
A: Accuracy depends on consistent annual raises. Career changes or economic shifts may alter actual results.

Q4: Can I calculate for different time periods?
A: This calculator is fixed at 10 years. For other periods, adjust the exponent in the formula.

Q5: What if my raises vary each year?
A: This assumes constant percentage growth. For variable rates, you'd need to calculate each year separately.