1. What is Hike Percentage Calculation?

Hike percentage calculation measures the percentage increase between an old salary and a new salary. It helps employees understand their salary growth and negotiate better compensation packages.

2. How Does the Calculator Work?

The calculator uses the hike percentage formula:

Where:

• \( \text{New Salary} \) — The updated or proposed salary amount ($)
• \( \text{Old Salary} \) — The previous or current salary amount ($)

Explanation: The formula calculates the relative increase as a percentage of the original salary amount.

3. Importance of Salary Hike Calculation

Details: Understanding salary hike percentages is crucial for career planning, salary negotiations, financial planning, and assessing job offer competitiveness.

4. Using the Calculator

Tips: Enter both old and new salary amounts in dollars. Both values must be positive numbers. The calculator will show the percentage increase between the two amounts.

5. Frequently Asked Questions (FAQ)

Q1: What is considered a good salary hike percentage?
A: Typically, 10-15% is considered standard for annual increments, while 20-30% or more is common when switching jobs.

Q2: Can the calculator handle salary decreases?
A: Yes, if the new salary is lower than the old salary, the calculator will show a negative percentage indicating a salary decrease.

Q3: Should I include bonuses in the salary calculation?
A: For accurate comparison, use base salaries only as bonuses can vary significantly year to year.

Q4: How often should I calculate my salary hike?
A: It's recommended to calculate after each salary revision, job change, or during performance review periods.

Q5: Does this work for hourly wages as well?
A: Yes, you can input annualized amounts of hourly wages for accurate percentage calculations.