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Pay Raise Calculator
Calculate a pay raise, salary increase percentage, or hourly raise and see the gross weekly, biweekly, monthly, and annual difference.
Pay increase
- Raise amount
- $2.00
- Raise percentage
- 10.00%
- New pay
- $22.00
- Weekly increase
- $80.00
- Biweekly increase
- $160.00
- Monthly increase
- $346.67
- Annual increase
- $4,160.00
- Old annual equivalent
- $41,600.00
- New annual equivalent
- $45,760.00
Gross compensation comparison only. Taxes, benefits, and deductions are not included.
$20 to $22 an Hour Raise
That is a 10% increase, adding $2.00 per hour, $80.00 per week, $346.67 per month, and $4,160.00 per year at 40 hours per week and 52 weeks per year.
What Does a 5% Raise Look Like on a $50,000 Salary?
A 5% increase produces a new salary of $52,500.00 and an annual increase of $2,500.00, or about $208.33 per month.
Pay Increase Percentage Table
| Raise | $20/hr new wage | $50,000 new salary |
|---|---|---|
| 2% | $20.40 | $51,000.00 |
| 3% | $20.60 | $51,500.00 |
| 5% | $21.00 | $52,500.00 |
| 10% | $22.00 | $55,000.00 |
How to Calculate a Pay Raise
For a dollar raise, subtract current pay from new pay. For a percentage raise, divide the dollar change by current pay and multiply by 100. Hourly pay uses your work schedule; salary pay starts with annual compensation.
Hourly Raise vs Salary Raise
An hourly raise changes the wage used with hours and weeks worked. A salary raise changes annual compensation and can be converted to an hourly equivalent using your schedule.
Frequently Asked Questions
How do I calculate a pay raise?
Subtract current pay from new pay for the dollar change, then divide that change by current pay and multiply by 100 for the percentage.
How much is a 5% raise?
A 5% raise multiplies current pay by 1.05. For a $50,000 salary, the new salary is $52,500.
How much is a $2 per hour raise per year?
At 40 hours per week and 52 weeks per year, a $2 hourly increase adds $4,160 in gross annual pay.
Does this calculator show after-tax income?
No. This is a gross compensation comparison. Use a paycheck calculator for estimated after-tax income.
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