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.

## FAQ

**What is a pay raise?**

A pay raise is an increase in wages for your job that arises from good performance or a change in responsibilities.