Pay Raise Calculator
See your new salary, new hourly rate and how much more you earn each month after a raise.
How the pay raise calculator works
Enter your current yearly salary and choose whether the raise is a percent or a fixed dollar amount. The calculator adds the raise to your salary and shows what it means per month, per paycheck and per hour. Hourly rates use your weekly hours times 52 weeks.
The formulas
Example: A $60,000 salary with a 5% raise becomes $63,000.00. That is $3,000.00 more a year, $250.00 a month, and the hourly rate goes from $28.85 to $30.29.
These figures are before tax. To see take-home pay, use the paycheck calculator.
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Frequently asked questions
How do I calculate a pay raise percentage?
Subtract your old pay from your new pay, divide by your old pay and multiply by 100.
How much is a 5% raise on $60,000?
A 5% raise adds $3,000 a year, so the new salary is $63,000.
Is a raise taxed?
Yes. A raise is taxed like the rest of your income, so your take-home increase is smaller than the gross raise.
What is a good raise percentage?
Typical annual raises are often around 3 to 5 percent. Promotions or job changes can be larger.
How do I turn salary into an hourly rate?
Divide your yearly salary by the hours you work in a year, which is hours per week times 52.
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