Enter your initial pay and a percentage increase into the calculator below to determine your new pay rate.
- Future Value Calculator
- Depreciation Calculator
- Certificate of Deposit Calculator
- Hourly Pay Calculator
Pay Raise Formula
The following formula is used to calculate a pay raise.
NP = OP * (I/100+1)
- Where NP is the new pay rate
- OP is the original pay rate
- I is the percentage increase in pay
Pay Raise Definition
A pay raise is an increase in wages for a job based on performance or increase responsibilities.
How to calculate a pay raise?
How to calculate a pay raise
- First, determine your original pay
Use the hourly rate your company gives you or your salaried rate.
- Next, determine the pay increase
This should be a percentage increase.
- Calculate your new pay rate
Enter the information from steps 1 & 2 into the calculator to determine your new pay rate.
A pay raise is an increase in wages for your job that arises from good performance or a change in responsibilities.