Pay Raise Calculator
Calculate Your New Salary After a Pay Increase
New Salary
$52,500.00
Per YearIncrease Amount
$2,500.00
Total IncreaseUnderstanding Your Pay Raise
What is a Pay Raise?
A pay raise, also known as a salary increase or wage increase, represents an increase in the amount of compensation an employee receives from their employer. This can come in the form of a percentage increase or a fixed dollar amount added to your current salary.
Types of Pay Raises
Common types of pay raises include cost-of-living adjustments (COLA), merit-based increases, promotional raises, and market adjustments. Each serves different purposes and may be calculated differently based on company policies and economic factors.
Understanding Pay Frequencies
Your salary may be quoted annually but paid out in different frequencies. Understanding how your raise affects each paycheck is crucial for personal budgeting. This calculator helps you see the impact across different pay periods.
Tax Implications
Remember that a pay raise might push you into a higher tax bracket. While this only affects the portion of income in the higher bracket, it's important to consider the net impact on your take-home pay. Consult with a tax professional for specific advice.