Formula
The raise is the current salary times the percent, rounded to the nearest cent:
New salary = current salary + current salary × raise percent
A zero percent raise leaves the salary unchanged.
Assumptions
- The percent applies to the whole current salary.
- The raise is not compounded across several years.
Worked example
A $58,000.00 salary with a 4% raise becomes $60,320.00.
Input definitions
- Current salary
- The pay before the raise.
- Raise
- The percent added, from 0 to 100.
Limitations
This is a planning estimate, not payroll, tax, shipping, or marketplace advice. The currency control changes the symbol only.
Questions
Can I enter the new salary instead?
No. This page starts from the current salary and a percent. Revenue growth answers a compound rate between two amounts.
Is 4% a standard raise?
No. 4% is only the example.