{
  "id": "pay-raise",
  "version": "87406b3b9ff3",
  "status": "published",
  "name": "Pay Raise Calculator",
  "question": "How much is my pay raise?",
  "summary": "Computes a new pay from the current pay and a raise in percent or dollars, or the raise percent from the old and new pay.",
  "category": "finance",
  "subcategory": "tax-and-pay",
  "url": "https://www.acalculator.org/finance/pay-raise-calculator",
  "markdown": "https://www.acalculator.org/finance/pay-raise-calculator.md",
  "kind": "formulas",
  "method": "raise = current × percent ÷ 100; new = current + raise = current × (1 + percent ÷ 100).",
  "assumptions": [
    "The current pay, the raise amount and the new pay are all for the same period (per hour, per month or per year).",
    "The raise percent is of the current pay. A negative percent or amount is a pay cut.",
    "Pay is before tax. Tax and inflation are not included."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "current": {
        "title": "Current pay",
        "description": "Your pay before the raise, for any period (per hour, per month or per year).",
        "type": "number",
        "x-unit": "USD",
        "exclusiveMinimum": 0,
        "maximum": 1000000000
      },
      "percent": {
        "title": "Raise",
        "description": "The raise as a percent of the current pay. Negative for a pay cut.",
        "type": "number",
        "x-unit": "percent",
        "minimum": -100,
        "maximum": 100000
      },
      "newPay": {
        "title": "New pay",
        "description": "Your pay after the raise, for the same period as the current pay.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 11000000000
      },
      "raise": {
        "title": "Raise amount",
        "description": "The raise in dollars for the same period: new pay minus current pay.",
        "type": "number",
        "x-unit": "USD",
        "minimum": -1000000000,
        "maximum": 10000000000
      }
    }
  },
  "solve": {
    "fillAny": 2,
    "variables": [
      "current",
      "percent",
      "newPay",
      "raise"
    ],
    "inputsOnly": []
  },
  "outputs": {
    "current": {
      "label": "Current pay",
      "description": "Your pay before the raise, for any period (per hour, per month or per year).",
      "format": "money"
    },
    "percent": {
      "label": "Raise",
      "description": "The raise as a percent of the current pay.",
      "format": "percent"
    },
    "newPay": {
      "label": "Your new pay",
      "description": "Your pay after the raise, for the same period as the current pay.",
      "format": "money"
    },
    "raise": {
      "label": "Raise amount",
      "description": "The raise in dollars for the same period: new pay minus current pay.",
      "format": "money"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "current": 60000,
      "percent": 4
    },
    "outputs": {
      "newPay": 62400,
      "raise": 2400
    },
    "text": "A 4% raise on $60,000.00 is $2,400.00, so your new pay is $62,400.00."
  },
  "examples": [
    {
      "given": {
        "current": 25,
        "percent": 3
      },
      "expect": {
        "raise": 0.75,
        "newPay": 25.75
      },
      "source": "hand calculation in content.mdx: 25 × 3 ÷ 100 = 0.75; 25 + 0.75 = 25.75"
    },
    {
      "given": {
        "current": 52000,
        "newPay": 55000
      },
      "expect": {
        "raise": 3000,
        "percent": 5.769230769230769
      },
      "source": "hand calculation in content.mdx: 55,000 − 52,000 = 3,000; 3,000 ÷ 52,000 × 100 = 5.77%"
    },
    {
      "given": {
        "newPay": 66000,
        "percent": 10
      },
      "expect": {
        "current": 60000,
        "raise": 6000
      },
      "source": "hand calculation in content.mdx: 66,000 ÷ 1.10 = 60,000; 66,000 − 60,000 = 6,000"
    },
    {
      "given": {
        "current": 4000,
        "raise": -200
      },
      "expect": {
        "newPay": 3800,
        "percent": -5
      },
      "source": "hand calculation in content.mdx: a $200 cut on $4,000 a month is −200 ÷ 4,000 × 100 = −5%"
    }
  ],
  "sources": [
    "Hand derivation from the definition of a percent change: change = old × percent ÷ 100; new = old + change (shown in full below).",
    "U.S. Bureau of Labor Statistics, Employment Cost Index (quarterly measure of wage and salary growth). https://www.bls.gov/eci/",
    "U.S. Bureau of Labor Statistics, Consumer Price Index. https://www.bls.gov/cpi/"
  ],
  "related": [
    "percentage",
    "salary",
    "salary-to-hourly"
  ],
  "changelog": []
}