Salary Hike Calculator
Easily calculate your new salary after a hike or find the hike percentage if you know the new salary.
Calculate Your Salary Increment Easily
When you get a salary hike at work, the first thing that comes to mind is, “How much will my new salary be?” or “What is the exact percentage increase of salary, I am getting?” This is where a Salary Hike Calculator can help you. It is a simple and easy-to-use tool that allows you to calculate your new salary, the hike percentage, and the exact hike amount.
Whether you are an employee trying to check your new package, an HR professional calculating increments for staff, or a job seeker comparing offers, this calculator saves time and gives accurate results instantly. Just input your current salary and either the hike percentage or the new salary, and let the calculator do the rest.
How Does the Salary Hike Calculator Work?
Many times, employees receive a letter saying “You have been given a 10% hike” or “Your new CTC is ₹7,20,000 per annum.” But it’s not always easy to understand how much extra money you are actually getting.
Using the Salary Hike Calculator is straightforward. Follow these simple steps:
- Select the calculation type: Choose whether you want to calculate by hike percentage or by new salary.
- Enter your current salary: Input your current salary.
- Provide additional information: Depending on your selection, enter either the hike percentage or the new salary.
- Click on 'Calculate Salary': The calculator will process the information and display your new salary, hike percentage, and hike amount instantly.
This tool is designed to be user-friendly and requires no special skills or knowledge. It’s perfect for anyone looking to understand their salary increments better.
Salary Hike Calculation Formulas
The Salary Hike Calculator uses simple mathematical formulas to compute the results based on your inputs. Here are the formulas used:
- When calculating by Hike Percentage: New Salary = Current Salary + (Current Salary * Hike Percentage / 100)
- When calculating by New Salary: Hike Percentage = ((New Salary - Current Salary) / Current Salary) * 100
- Hike Amount = New Salary - Current Salary
These formulas ensure that you get accurate and reliable results every time you use the calculator.
Examples of Salary Hike Calculations
To illustrate how the Salary Hike Calculator works, here are a couple of examples:
Example 1: Calculating New Salary by Hike Percentage
- Current Salary: ₹50,000
- Hike Percentage: 10%
- Using the formula: New Salary = 50,000 + (50,000 * 10 / 100) = ₹55,000
- Hike Amount = 55,000 - 50,000 = ₹5,000
Example 2: Calculating Hike Percentage by New Salary
- Current Salary: ₹60,000
- New Salary: ₹66,000
- Using the formula: Hike Percentage = ((66,000 - 60,000) / 60,000) * 100 = 10%
- Hike Amount = 66,000 - 60,000 = ₹6,000