Pay Raise Calculator
Calculate the impact of a salary increase. See your new salary and how the raise affects your pay across all periods.
Before Raise
After Raise
Understanding Pay Raises
A pay raise increases your compensation and can significantly impact your long-term wealth. Even a small percentage increase compounds over time through higher retirement contributions, Social Security benefits, and future raise calculations.
Frequently Asked Questions
What is a typical annual raise?
The average annual raise in the US is 3-5%, though this varies by industry, performance, and economic conditions. Cost-of-living adjustments are typically 2-3%, while merit-based raises can be higher.
How do I negotiate a raise?
Research market rates for your position, document your achievements and contributions, time your request well (after successful projects or during reviews), and be prepared to discuss specific numbers. Practice your pitch beforehand.
Should I ask for a percentage or dollar amount?
For smaller raises (under $5,000), a percentage is often easier for managers to approve. For larger raises or promotions, a specific dollar amount tied to market data can be more effective. Know your market value.
How does a raise affect my taxes?
A raise increases your taxable income. If it pushes you into a higher tax bracket, only the income above the bracket threshold is taxed at the higher rate. Use our salary calculator to estimate your take-home pay.
Disclaimer
This calculator is for informational purposes only and should not be considered financial advice. Consult with a qualified financial professional before making any financial decisions.