1. What is the Wage Increase Calculator?

The Wage Increase Calculator helps you determine your new salary after a percentage-based raise. It calculates both the new wage amount and the actual dollar increase based on your current wage and the raise percentage.

2. How Does the Calculator Work?

The calculator uses the wage increase formula:

Where:

• Old Wage — Your current wage/salary amount
• Rate — The percentage increase (e.g., 3 for 3%)

Explanation: The formula multiplies your current wage by 1 plus the decimal equivalent of your raise percentage to calculate your new wage.

3. Importance of Wage Increase Calculation

Details: Understanding exactly how a percentage raise affects your actual take-home pay helps with financial planning and salary negotiations.

4. Using the Calculator

Tips: Enter your current wage amount (without dollar sign) and the percentage increase (without percent sign). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: How do I calculate a 5% raise?
A: Enter your current wage and 5 in the percentage field. The calculator will show your new wage and the dollar amount increase.

Q2: Does this work for salary reductions too?
A: Yes, enter a negative percentage to calculate wage decreases (though the calculator currently restricts to positive values).

Q3: How is this different from a cost-of-living adjustment?
A: The calculation is the same, but COLAs are typically based on inflation rates while raises may be merit-based.

Q4: Should I include benefits in the wage amount?
A: No, this calculator is for base wage/salary only. Benefits would require separate calculations.

Q5: How do I calculate multiple raises over time?
A: You would need to apply the calculator sequentially for each raise period.