How it works
new salary = current × (1 + raise ÷ 100)increase = current × raise ÷ 100
- current
- your salary now
- raise
- the percentage increase
- new salary
- your pay after the raise
This works on gross salary. A raise also lifts the tax you pay, so take-home rises by a little less than the gross increase.
Frequently asked questions
What is a 5% raise on $50,000?
A $2,500 increase, for a new salary of $52,500.
How do I calculate a pay raise?
Multiply your salary by the raise percent and divide by 100 for the increase, then add it on.
What is a 3% raise on $60,000?
An $1,800 increase, giving $61,800.
Does a raise change my take-home the same amount?
Not quite. The gross goes up by the full amount, but tax on the extra means take-home rises by a little less.