How to calculate a raise
Raise % = (New pay − Old pay) ÷ Old pay × 100
A 4% raise on $62,000: $62,000 × 1.04 = $64,480, which is $2,480 more a year, or $95.38 more per biweekly paycheck. Going from $18 to $19.25 an hour: $1.25 ÷ $18 = 6.9%.
Raises by percentage
Increase per year, with the monthly increase below it, before taxes.
| Salary | 2% | 3% | 4% | 5% | 7% | 10% |
|---|---|---|---|---|---|---|
| $40,000 | +$800 +$67/mo |
+$1,200 +$100/mo |
+$1,600 +$133/mo |
+$2,000 +$167/mo |
+$2,800 +$233/mo |
+$4,000 +$333/mo |
| $50,000 | +$1,000 +$83/mo |
+$1,500 +$125/mo |
+$2,000 +$167/mo |
+$2,500 +$208/mo |
+$3,500 +$292/mo |
+$5,000 +$417/mo |
| $60,000 | +$1,200 +$100/mo |
+$1,800 +$150/mo |
+$2,400 +$200/mo |
+$3,000 +$250/mo |
+$4,200 +$350/mo |
+$6,000 +$500/mo |
| $75,000 | +$1,500 +$125/mo |
+$2,250 +$188/mo |
+$3,000 +$250/mo |
+$3,750 +$313/mo |
+$5,250 +$438/mo |
+$7,500 +$625/mo |
| $100,000 | +$2,000 +$167/mo |
+$3,000 +$250/mo |
+$4,000 +$333/mo |
+$5,000 +$417/mo |
+$7,000 +$583/mo |
+$10,000 +$833/mo |
Raise questions
How do I calculate a raise percentage?
Subtract the old pay from the new pay, divide by the old pay and multiply by 100. From $60,000 to $64,500: $4,500 ÷ $60,000 × 100 = 7.5%. For hourly pay it works the same way: $20 to $21.50 is a 7.5% raise.
What is a 3% raise on $50,000?
A 3% raise on $50,000 is $1,500 a year, so the new salary is $51,500. That is $125 more a month, about $57.69 more per biweekly paycheck and about 72 cents more an hour at 40 hours a week, before taxes.
How much is a raise per paycheck?
Divide the yearly increase by the number of paychecks: 26 for biweekly pay, 24 for semimonthly, 52 for weekly and 12 for monthly. A $2,600 raise is $100 more every two weeks.
Is a $1 an hour raise a good raise?
It depends on your current rate: $1 on $15 an hour is a 6.7% raise, on $25 an hour it is 4%. At full time, $1 an hour is $2,080 more a year before taxes.
What is a cost-of-living raise?
A cost-of-living adjustment (COLA) is a raise meant to keep pay in line with inflation, usually set as a percentage for everyone. If prices rise faster than your raise, your pay buys less than before even though the number went up.