OneTaskBy Tim King · Updated
Salary Increase Calculator
Pay Rise by Percentage, Extra Per Week and Real Rise After Inflation
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How the Salary Increase Calculator works
This salary increase calculator shows what a pay rise is really worth. Enter your current salary and the raise as a percentage, or the new salary you have been offered, and it returns the increase per year, month, fortnight and week, the new hourly equivalent and how much of the raise survives inflation.
Salary increase calculator formula
A percentage raise multiplies the old salary by one plus the percentage:
New salary = old salary × (1 + raise ÷ 100)
To go the other way, from an offered salary to a percentage, divide the difference by the old salary: (new − old) ÷ old × 100. The salary increase calculator does whichever you need: fill in the new salary and it ignores the percentage field.
Worked example: a 4% raise
On 80,000 a year, a 4% raise adds 80,000 × 0.04 = 3,200, for a new salary of 83,200. That is 266.67 more a month, 123.08 more a fortnight and 61.54 more a week, all before tax. At 38 hours a week the new hourly equivalent is 83,200 ÷ 52 ÷ 38 = 42.11.
Worked example: the real raise after inflation
If prices rose 3% over the same year, the 4% raise buys only a little more than last year's salary did. The real increase is (1.04 ÷ 1.03 − 1) × 100 = 0.97%. A raise below the inflation rate is a real pay cut even though the number on the payslip goes up.
Pay rise reference table
A 3% and a 5% raise on salaries from 40,000 to 150,000.
| Salary | 3% raise | New salary | Extra per month | 5% raise |
|---|---|---|---|---|
| 40,000 | 1,200 | 41,200 | 100.00 | 2,000 |
| 45,000 | 1,350 | 46,350 | 112.50 | 2,250 |
| 50,000 | 1,500 | 51,500 | 125.00 | 2,500 |
| 55,000 | 1,650 | 56,650 | 137.50 | 2,750 |
| 60,000 | 1,800 | 61,800 | 150.00 | 3,000 |
| 65,000 | 1,950 | 66,950 | 162.50 | 3,250 |
| 70,000 | 2,100 | 72,100 | 175.00 | 3,500 |
| 75,000 | 2,250 | 77,250 | 187.50 | 3,750 |
| 80,000 | 2,400 | 82,400 | 200.00 | 4,000 |
| 85,000 | 2,550 | 87,550 | 212.50 | 4,250 |
| 90,000 | 2,700 | 92,700 | 225.00 | 4,500 |
| 95,000 | 2,850 | 97,850 | 237.50 | 4,750 |
| 100,000 | 3,000 | 103,000 | 250.00 | 5,000 |
| 105,000 | 3,150 | 108,150 | 262.50 | 5,250 |
| 110,000 | 3,300 | 113,300 | 275.00 | 5,500 |
| 115,000 | 3,450 | 118,450 | 287.50 | 5,750 |
| 120,000 | 3,600 | 123,600 | 300.00 | 6,000 |
| 125,000 | 3,750 | 128,750 | 312.50 | 6,250 |
| 130,000 | 3,900 | 133,900 | 325.00 | 6,500 |
| 135,000 | 4,050 | 139,050 | 337.50 | 6,750 |
| 140,000 | 4,200 | 144,200 | 350.00 | 7,000 |
| 145,000 | 4,350 | 149,350 | 362.50 | 7,250 |
| 150,000 | 4,500 | 154,500 | 375.00 | 7,500 |
Quick answers
- A 3% raise on 60,000 is 1,800 a year, or 150 a month.
- A 5% raise on 100,000 is 5,000 a year, or 96.15 a week.
- Going from 70,000 to 75,000 is a 7.14% raise.
- A 10% raise followed by another 10% is 21%, not 20%.
- A 2% raise with 3% inflation is a real cut of about 0.97%.
- Take inflation off the raise to see how many points of real growth you gained: 4% against 3% is about 1%.
FAQ
How do I work out a pay rise percentage?
Subtract the old salary from the new one and divide by the old salary, then multiply by 100. Going from 52,000 to 55,000 is 3,000 ÷ 52,000 = 5.77%.
How much extra will I take home?
This calculator shows the gross increase. Tax and other deductions come out of the extra as well, usually at your highest marginal rate, so the take-home gain is smaller than the figures here.
What is a good pay rise?
A raise at or above inflation keeps your buying power level, so compare the raise with the inflation rate first. Beyond that, the market rate for your role is the better guide than any single percentage.
Does the hourly figure include overtime?
No. It divides the new salary by 52 weeks and the hours you enter, so it is the ordinary hourly equivalent. Use the overtime calculator for hours paid at a higher rate.
See also: all Pay tools, Bills, Property, Debt, Investing, Saving.
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