Pay Raise Calculator
Calculate your new pay after a raise and the dollar increase per hour, week, month, and year. Enter a percentage raise or a new pay rate.
New Pay
$63,000
per year
Raise Amount
$3,000.00
per year
Raise Percent
5.00%
New pay breakdown
| Period | New Pay |
|---|---|
| Annual | $63,000.00 |
| Monthly | $5,250.00 |
| Hourly (40 h/wk × 52 wk) | $30.29 |
Frequently Asked Questions
How do I calculate a percentage pay raise?
Multiply your current pay by (1 + raise% ÷ 100). For example, a 5% raise on $60,000 gives $60,000 × 1.05 = $63,000. The raise amount is simply the new pay minus the old pay.
Is a 3% raise good?
It depends on inflation and your local cost of living. Historically, a 3% raise has been the U.S. average, but when inflation runs above 3%, your real purchasing power actually declines. Compare your raise to the current CPI or your area's cost-of-living index to judge its true value.
Does a raise keep up with inflation?
Only if the raise percentage exceeds the inflation rate. If inflation is 4% and your raise is 3%, you have effectively taken a 1% pay cut in real terms. To maintain purchasing power, your raise must at minimum match the current inflation rate.