Salary Hike Calculator - CTC Calculator
A salary hike percentage calculator or CTC calculator is one of the effective tools used to calculate the salary based on the percentage. The interface used in this tool is interactive and well-programmed to simplify the computation. You can also find your new salary using a hike percentage or increment.
What is a salary?
Salary is a certain amount of money which company or organization provides to their employees. Usually salary will be given by the starting of each month, In some places it may differ like salary will be provided weekly or daily basis.
What is Salary hike percentage calculator (or) CTC calculator? It is simply a tool for calculating your future salary based on the current salary and percentage increase (or) to find out the salary increase percentage based on current salary and new salary which was decided by the company or organization you work for.
Mr OnlineTools gives us a simple and custom friendly salary (or) pay raise calculator
Percentage Increase in Salary Calculation
When you got a promotion or when you switch to an another job with a salary hike, then its important to know how much percentage of hike you have got in your new job. Learn how to find the percentage increase in your salary with this simple free online salary hike calculator.
- Step 1: First, Calculate the decimal value of salary hike percentage
- Step 2: Then, Multiply the decimal value to the current CTC.
- Step 3: Now add the final value to your current CTC.
- Step 4: Finally the new salary value is displayed.
Current CTC (Salary) * Salary Hike Percentage = New Salary
- Step 1: First find the decimal value of 30% is 30/100 = 0.30
- Step 2: Then multiply the 0.30 into 28000 = 0.30 * 28000
- Step 3: Then you got 8400.
- Step 4: And add the 8400 + 28000 = 36400
- Step 5: Hence, New Salary is 36400.
Pay increases tend to vary based on inflation, location, sector, and job performance. Most employers give their employees an average increase of 3% per year. The national raise average is 3% for employees who meet their goals and their employer's expectations. And according to one study, 56.4% of employers plan to give employees a raise of 3% But between worker expectations and high inflation, a 3% raise may not feel like a pay raise.