You can use our salary hike calculator to figure out your new salary after the hike. Our calculator is easy, error-free, and gives accurate results. You may easily find out your new total salary after the increment or the percentage of your salary increase with a single click.
How to Use Our Calculator?
Our Calculator is easy and simple, and we have two options. You can choose between two options according to your requirements: the first is Find Salary by Hike Percentage, and the second is Find Hike Percentage by Salary.
How to Use Find Salary by Hike Percentage?
This option will calculate your new salary based on the percentage hike. Here’s how to do it:
- Enter Your Salary: In the first field, enter your current salary. You can use either your monthly or annual salary; just make sure the format is consistent.
- Enter Hike Percentage: In the second field, add the percentage hike you estimate (for example, 15%).
- Then Click Calculate: Once both numbers are successfully added, click “Calculate” to get your new salary from an increase.
How to Use Find Hike Percentage by Salary?
This option is for you. If you are aware of old and new salaries but not sure about the percentage increase.
- Enter Current Salary: In the first field, enter your current salary.
- Enter New Salary: In the second field, enter the new salary you’ll receive.
- Then Click Calculate: The result will give you the percentage difference between your old and new salary, which makes it simple to figure out your increased percentage.
Analyzing the Results
- Input Your Data:
Example: Current Salary = ₹50,000, Hike Percentage = 10%. - Review New Salary:
New Salary = ₹50,000 + (₹50,000 × 0.10) = ₹55,000. - Calculate Difference:
Salary increase = ₹55,000 − ₹50,000 = ₹5,000. - Verify Percentage:
Hike = (₹55,000 − ₹50,000) / ₹50,000) × 100 = 10%. - Project Annual Impact:
Old Annual Salary = ₹6,00,000, New Annual Salary = ₹6,60,000. - Financial Impact:
Extra ₹5,000 monthly = ₹60,000 annually for savings, investment, or lifestyle.
Now that you have identified the salary hike, it’s essential to think about the bigger picture. An increase in salary affects several parts of your financial planning. Not only will you earn more money, but you will also need to think about the tax consequences, savings, and how that raise fits into your career path.
For example, if you are assuming a salary increase as a government employee, understanding how the increase affects your CTC (cost to company) would allow you to better prepare for investments and savings.