How to Use the Calculator
- Enter your current annual salary in the "Current Salary" field.
- Enter the salary increase percentage in the "Increase Percentage" field.
- Click the "Calculate" button to compute your new salary and the increase amount.
- The results will be displayed in the "New Salary" and "Salary Increase Amount" fields.
Understanding the Formula
The calculator uses the following formula to calculate your new salary:
New Salary = Current Salary × (1 + Increase Percentage / 100)
For example, if your current salary is $50,000 and your employer offers a 10% increase, your new salary would be calculated as:
New Salary = $50,000 × (1 + 10 / 100) = $50,000 × 1.10 = $55,000
Practical Tips
- Make sure to enter the increase percentage as a whole number (e.g., 10 for 10%).
- The calculator provides a quick way to estimate your new salary without using a calculator or spreadsheet.
- You can use this tool for both annual and hourly salaries by adjusting the input accordingly.