How To Use Salary Increase Percentage Calculator?
Find increase Percentage By Salary:
- Enter your current salary
- Next, enter your new salary
- Click “Calculate” and check your result
Find New Salary by increase Percentage:
- Enter your current salary
- Next, enter your Increase Percentage
- Click “Calculate” and check your result
What Is a Salary Increase Calculator?
A Salary Increase Calculator is an online tool that helps you or your employers calculate salary adjustments based on given inputs.
There are two main functionalities of an online salary increase calculator:
- 1. calculate the percentage increase of a salary.
- 2. Calculate the new salary after applying a specified percentage increase.
The Increase Percentage by Salary calculator is useful for understanding how much a salary has increased in percentage terms.
For example, if an employee earns a $50,000 salary and now it is increased to $55,000, the calculator shows how much percentage increase this new salary has.
Whereas, a New Salary by Increase Percentage calculator is useful for calculating what the new salary will be after applying a specific hike percentage.
For example, if an employee earns a $50,000 salary, and gets a 10% increase the calculator will show the new salary as $55,000.
How Salary Increase Calculator Work?
There are two approaches that the salary increase calculator takes into account. The first is finding an increased percentage by salary and the other one is finding a new salary by a given increase percentage.
This is how a salary increase calculator work:
1. Find Increase Percentage By Salary: Formula, Steps, and Example
Formula:
Increase Percentage = { ( New Salary−Current Salary ) / Current Salary } × 100
Steps:
- The user inputs the current salary.
- The user inputs the new salary.
- The calculator subtracts the current salary from the new salary.
- The result is divided by the current salary.
- The quotient is then multiplied by 100 to get the increased percentage.
Example:
- Current Salary: $50,000
- New Salary: $55,000
Increase Percentage = (50,00055,000 − 50,000) ×100 = (50,0005,000) × 100 = 0.1 × 100 = 10%
2. Find New Salary by Increase Percentage: Formula, Steps, and Example
Formula:
New Salary = Current Salary + (Current Salary × Increase Percentage/100)
Steps:
- The user inputs the current salary.
- The user inputs the increase percentage.
- The calculator converts the percentage into a decimal by dividing it by 100.
- The current salary is multiplied by this decimal.
- The result is then added to the current salary to get the new salary.
Example:
- Current Salary: $50,000
- Increase Percentage: 10%
New Salary = 50,000 + ( 50,000 × 10/100) = 50,000 + ( 50,000 × 0.1 ) = 50,000 + 5,000 = 55,000