Pay Raise Calculator

The Pay Raise Calculator allows users to calculate their new annual and pay period salaries, along with the annual raise amount, increase per pay period, and percentage increase based on their current salary and desired raise percentage.

Use Our Pay Raise Calculator

Step-by-Step Guide to Using the Pay Raise Calculator

Step 1: Gather Your Information

Before using the Pay Raise Calculator, make sure you have the following information readily available:

  • Current Annual Salary: This is the gross amount you earn each year before taxes and other deductions.
  • Pay Raise Percentage: The percentage increase you are expecting or have been offered.
  • Pay Frequency: How often you receive your paycheck. You can choose from Weekly (52), Bi-weekly (26), Semi-monthly (24), or Monthly (12).

Step 2: Enter Your Current Annual Salary

Locate the input field labeled Current Annual Salary. Enter your current salary here. Ensure the value is a positive number with up to two decimal places to reflect cents, if necessary.

Step 3: Enter the Raise Percentage

Next, find the input field labeled Pay Raise Percentage. Input the raise percentage you expect or have been discussed. It should be a number between 0 and 100, precise to one decimal point.

Step 4: Select Your Pay Frequency

In this step, go to the Pay Frequency dropdown menu and select the frequency at which you are paid. Choose the option that best matches your current payment schedule such as Weekly, Bi-weekly, Semi-monthly, or Monthly.

Step 5: Calculate Results

Once all the input fields are complete, the calculator will automatically compute the results for the following:

  • Annual Raise Amount: This figure represents the total amount of your pay increase over a year.
  • New Annual Salary: Your salary after the pay raise.
  • New Salary Per Pay Period: How much you will receive per paycheck with your new salary.
  • Increase Per Pay Period: The additional amount you will earn per paycheck due to the raise.
  • Percentage Increase: Reiterates the percentage you entered, confirming the raise calculation.

All monetary values will be formatted in U.S. dollars with two decimal places, and percentages will be shown with one decimal place.

Step 6: Review Calculated Results

Review the calculated figures to understand the impact of the pay raise on your finances. Verify each value for accuracy, considering your current financial plans or budgets.