Pay Raise Percentage Calculator

Percent in, dollars out

This page asks for the raise percent first and keeps that as the only way in. Type the current hourly rate or switch the basis to an annual salary, then type the percent. The new amount is current × (1 + percent / 100). The increase is the new amount minus the current amount. A 10% raise on $20 is $22, and the increase is $2 an hour. At 40 hours a week that is $80 more a week. At 40 × 52, the default year of 2,080 hours, it is $4,160 more a year. The button fills that example.

A 5% raise on a $52,000 salary is a different basis, not a different formula. Choose annual salary, enter 52000, and enter 5. The new salary is $54,600. The increase is $2,600 a year. The hourly difference divides that $2,600 by 2,080, which is $1.25 an hour, but only if the salary really is 40 hours times 52 weeks. Change the hours or the weeks if the schedule is not that year. A negative percent estimates a pay cut with the same multiplication.

How this differs from the other raise page

The pay raise calculator can start from a percent or from the new paycheck and solve back to the percent. This pay raise percentage calculator does not offer that reverse switch. If you were told “your new rate is $22” and you need the percent, use that other page. If you were told “3 percent,” use this page or the prefilled 3 percent pay raise calculator. The 3% case on a $20 rate is $20.60, which is easy to misread as a $3 raise. The percent multiplies current pay. It does not add three dollars unless current pay is $100.

A raise is not overtime. Overtime prices extra hours at 1.5 times the current rate. A raise changes the rate those hours will use later. After the new hourly rate is on the screen, a workweek still goes through the overtime calculator, and a block of overtime hours goes through the time and a half calculator. Neither of those forms knows about the raise until you type the new rate. Taxes are not withheld here. The result is the gross change, and it is an estimate, not a compensation agreement.

Hours on a timesheet still need to be decimals before they meet the new rate. 8:30 is 8.50 on the hours to decimal calculator. The formulas for the percent and for the weekly and yearly extras are repeated on assumptions and formulas.