1. What Is Salary Hike Percentage?

Salary hike percentage represents the percentage increase in salary from an old salary to a new salary. It is commonly used to evaluate salary increments, promotions, and job offers.

2. How Does The Calculator Work?

The calculator uses the salary hike percentage formula:

Where:

• \( \text{New Salary} \) — The new or increased salary amount
• \( \text{Old Salary} \) — The original or previous salary amount

Explanation: This formula calculates the percentage change between two salary figures, showing how much the salary has increased relative to the original amount.

3. Importance Of Salary Hike Calculation

Details: Calculating salary hike percentage helps employees evaluate job offers, negotiate salaries, understand compensation growth, and make informed career decisions.

4. Using The Calculator

Tips: Enter both old and new salary amounts in dollars. Ensure both values are positive numbers. The calculator will compute the percentage increase automatically.

5. Frequently Asked Questions (FAQ)

Q1: What is considered a good salary hike percentage?
A: A good salary hike typically ranges from 10-20% for internal promotions and 15-30% for job changes, though this varies by industry and location.

Q2: Can the hike percentage be negative?
A: Yes, if the new salary is lower than the old salary, the percentage will be negative, indicating a salary decrease.

Q3: Should I include bonuses in salary calculations?
A: For accurate comparison, use base salary figures. Bonuses and other variable compensation should be considered separately.

Q4: How often should salary hikes occur?
A: Most companies provide annual salary reviews, but this can vary by company policy and individual performance.

Q5: Is this calculator useful for freelancers?
A: Yes, freelancers can use it to calculate percentage increases in their hourly rates or project fees.