How do you calculate a salary increase percentage?

New Salary = Current Salary × (1 + (Raise % / 100)). For instance, a 5% raise on a $60,000 salary equals $60,000 × 1.05 = $63,000 annually ($3,000 increase).

What is an average annual pay raise?

In the United States and global corporate markets, average annual merit increases typically range from 3% to 5%, with promotional raises often ranging between 8% and 15%.

Salary Increase Calculator

Calculate your new compensation across hourly, monthly, and annual terms following a pay raise.

Current Pay Amount ($)

Pay Frequency

Raise Percentage (%)

New Annual Salary —

Annual Pay Increase —

New Monthly Pay —

New Hourly Wage (40 hrs/wk) —

Pay Raise Formulas

New Annual Salary = Current Salary × (1 + (Raise % / 100))

Raise Dollar Increase = New Salary − Current Salary

Hourly Wage = Annual Salary / 2,080 working hours (40 hrs/wk × 52 wks)

Salary Increase Calculator

Pay Raise Formulas

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