1. What is Salary Hike Percentage?

The Salary Hike Percentage measures the percentage increase in your monthly salary from your old salary to your new salary. It helps you understand the relative growth in your compensation.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• New Monthly — Your new monthly salary amount
• Old Monthly — Your previous monthly salary amount

Explanation: The formula calculates the difference between your new and old salary, divides it by your old salary to get the relative change, and then converts it to a percentage.

3. Importance of Salary Hike Calculation

Details: Calculating your salary hike percentage helps you understand your compensation growth, negotiate better salaries, and plan your financial future.

4. Using the Calculator

Tips: Enter both your old and new monthly salary amounts in the same currency. The old monthly salary must be greater than zero for the calculation to work.

5. Frequently Asked Questions (FAQ)

Q1: What's considered a good salary hike percentage?
A: Typically, 10-15% is considered good, but this varies by industry, location, and individual performance.

Q2: Should I include bonuses in this calculation?
A: For pure salary comparison, don't include bonuses. For total compensation comparison, include all monetary benefits.

Q3: How does monthly hike percentage compare to annual?
A: The calculation is the same whether monthly or annual. Just ensure both values are for the same time period.

Q4: What if my old salary was zero?
A: The calculation won't work with a zero old salary as it would involve division by zero.

Q5: Can I use this for hourly wage calculations?
A: Yes, if you convert hourly wages to monthly equivalents first (hours/week × weeks/month × hourly rate).