Salary Increase & Raise Calculator
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Calculate the percentage increase, total annual jump, and monthly impact of a salary raise or new job offer.
What this tool does: Calculate the percentage increase, total annual jump, and monthly impact of a salary raise or new job offer. Inputs: Current Annual Salary ($), Proposed Annual Salary ($) Outputs: Annual Increase, Percentage Raise, Monthly Take-home Jump Processing: Runs locally in your browser Privacy: No inputs stored or sent
When to use this tool:
- Negotiating a performance-based raise.
- Evaluating a new job offer.
- Calculating cost-of-living adjustments.
Annual Increase
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Percentage Raise
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Monthly Take-home Jump
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How it's Calculated
- Calculate the raw difference between new and old salaries.
- Divide the difference by the original salary for the percentage jump.
- Divide annual gain by 12 for monthly lifestyle impact.
Key Assumptions
- Calculations are gross (pre-tax).
- Comparison assumes both roles have similar benefits packages.
Actionable Insights
- A 15-20% jump is standard when switching companies.
- Don't forget to account for 'bracket creep' where a raise might push you into a higher marginal tax band.
Frequently Asked Questions
What is a good percentage raise?
Internal raises are often 3-5%, while external job hops often net 10-20% or more.
Does this calculate tax brackets?
No, this is a gross increase calculator. Your net pay change will depend on your local tax laws.
Should I negotiate based on percentage or raw amount?
Both. Percentage helps you compare against market averages, while raw amount helps you plan your budget.
What if I get a bonus?
You can add the expected bonus to your 'Proposed Salary' for a total compensation comparison.
How does a raise affect my retirement contribution?
If you contribute a percentage of your salary (e.g., 401k), your absolute savings will increase automatically with your raise.
When should I ask for a raise?
Usually during annual reviews, or after completing a major project. Use these numbers to justify your value.