A salary hike calculator is a tool designed to help individuals or businesses determine the new salary or the percentage increase in salary after applying a specified raise or increment percentage. It's particularly useful during performance reviews, negotiations, or when planning salary adjustments for employees.
Features and Functionality of a Salary Hike Calculator:
1. Calculate New Salary:
Inputs: Users enter the current salary and the percentage increase they expect or have been offered.
Calculation: The calculator computes the new salary by adding the percentage increase to the current salary.
Example: If the current salary is ₹50,000 and the hike percentage is 10%, the new salary would be ₹55,000.
2. Calculate Hike Percentage:
Inputs: Users enter the old salary (before any raise) and the new salary (after the raise).
Calculation: The calculator determines the percentage increase in salary.
Example: If the old salary was ₹50,000 and the new salary is ₹55,000, the hike percentage is 10%.
How Does Salary Hike Calculator Work?
1. Calculate New Salary:
The user input their current salary.
The user input the hike percentage
The calculator displays the calculated New Salary
2. Calculate Hike Percentage:
The user input their previous salary before any increase.
The salary they are currently earning or have been offered.
Calculate the percentage increase
Benefits of Using Salary Hike Calculator Percentage