How to use this calculator
See what a percentage or fixed pay raise means annually and month by month.
How the calculation works
- Calculates the increase from either a percentage or fixed amount.
- Adds the increase to your current pay.
- Shows the monthly and annual difference for easier comparison.
Formula
New pay = current pay + raise amount. For hourly pay, annual difference = hourly increase x hours per week x weeks per year.
Example
A 5% raise on 60,000 adds 3,000 per year, or 250 per month before deductions.
Understanding your result
Use the increase to understand the gross difference in pay. Your take-home change may be smaller after taxes, benefits, and deductions.
Assumptions and limitations
- Choose annual salary or hourly pay before entering the current amount.
- It does not estimate taxes, benefits, retirement contributions, or other payroll deductions.
Frequently asked questions
Does this show take-home pay?
No. It shows gross pay before taxes, benefits, retirement contributions, and deductions.
Can I use this for hourly raises?
Yes. Choose the hourly basis and enter the hourly amount or percentage increase.