Salary Increase Calculator
Enter your current salary and raise percentage to see your new pay, the increase amount, and a multi-year projection.
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Frequently Asked Questions
How is a salary increase calculated?
New Salary = Current Salary × (1 + Increase Rate). A 5% raise on $60,000 = $60,000 × 1.05 = $63,000. The raise amount is $3,000.
What is a typical annual raise?
In recent years (2022–2024), average US salary increases have run 3–5% annually. High performers typically receive 6–10%. Cost-of-living adjustments (COLAs) track inflation, while merit raises exceed it for strong performers.
How do raises compound over time?
Compound raises grow faster than they appear. A 5% annual raise on $60,000 results in $76,577 after 5 years and $97,733 after 10 years — a 63% increase in a decade without any promotions.