Salary Hike Calculator
Calculate Your Salary Increase
Enter either percentage or amount. If both are provided, percentage will be used.
Hike Results
Pay Period Breakdown
How to Use the Salary Hike Calculator
Basic Usage
Enter your current salary and either the hike percentage or hike amount. Select your pay frequency and optionally provide an estimated tax rate. Click "Calculate Hike" to see your new salary and pay breakdown.
Understanding Results
- Current Salary: Your salary before the hike.
- Hike Percentage: The percentage increase in your salary.
- Hike Amount: The actual amount of increase in your salary.
- New Salary: Your salary after the hike is applied.
- Pay Period Breakdown: Shows your new salary broken down into different pay periods.
- After-Tax Estimation: If you provided a tax rate, this shows an estimate of your take-home pay after taxes.
Important Note
This calculator provides a simplified estimate and should not be used for official financial planning. Tax calculations are approximate and do not account for tax brackets, deductions, or other factors. For accurate financial advice, please consult a financial professional.
About Salary Hikes
A salary hike, also known as a salary increase or raise, is an increase in the amount of salary paid to an employee by their employer. It's typically expressed as a percentage of the current salary.
Types of Salary Hikes
- Merit-based: Based on performance and achievements
- Cost of living adjustment (COLA): To account for inflation
- Promotion-based: When moving to a higher position
- Market adjustment: To align with industry standards
- Retention raise: To keep valuable employees from leaving
Factors Affecting Salary Hikes
- Company performance and profitability
- Individual performance and contributions
- Industry standards and market rates
- Economic conditions and inflation rates
- Company policies and budget constraints
Tips for Negotiating a Salary Hike
- Research industry standards for your role and location
- Document your achievements and contributions
- Choose the right timing (after successful projects, during performance reviews)
- Be prepared to explain why you deserve the increase
- Consider the company's financial situation
- Be open to non-monetary benefits if a salary increase isn't possible