Pay Raise Calculator
Effortlessly calculate the impact of a pay raise with our user-friendly pay raise calculator. Designed for employees and employers alike, this tool helps you visualize how a pay raise affects your earnings over various pay periods. Enter your current pay rate, pay period, hours per workweek, raise type, and raise value, and the calculator will show you the differences in your earnings before and after the raise. Follow the easy steps below and gain a clear understanding of your new earning potential!
Step 1: Choose whether you’re paid hourly or by salary.
Step 2: Input your current pay rate in the corresponding input field.
Step 3: Select your pay period from the dropdown menu (Hourly, Daily, Weekly, etc.).
Step 4: Enter the number of hours you work per week in the “Hours per Workweek” input field.
Step 5: Choose the type of raise you’ll be receiving: percentage increase, flat rate increase, or a new rate altogether.
Step 6: Input the value of the raise in the “Raise Value” input field.
Step 7: Click Calculate to compute your earnings before and after the pay raise across various pay periods.
Step 8: Review the results to see how the pay raise affects your earnings and gain valuable insights to help you plan your finances more effectively.
5 Reasons to Use a pay raise calculator
Saves time: A pay raise calculator eliminates the need for manual calculations, saving time for both employers and employees.
Accuracy: A pay raise calculator provides accurate calculations, reducing the risk of errors.
Transparency: A pay raise calculator helps to create transparency around salary negotiations, making it easier for employees to understand their worth.
Empowerment: A pay raise calculator empowers employees to negotiate for fair compensation by providing them with data to support their requests.
Planning: A pay raise calculator allows employees to plan for their financial future by understanding the impact of potential pay raises on their income.