Salary Calculator – Raise, Annual Income & After‑Tax

The formula to calculate salary increase percentage is: (new salary - current salary) / current salary × 100%. For example, if your current salary is $10,000 and your new salary is $12,000, then the increase percentage is: (12,000 - 10,000) / 10,000 × 100% = 20%. This means your salary has increased by 20%. Our calculator will automatically calculate this percentage for you, you just need to enter your current salary and new salary.

The basic method to calculate annual income is to multiply the monthly salary by 12. For example, if your monthly salary is $10,000, then the basic annual income is $10,000 × 12 = $120,000. However, a more accurate calculation should also consider bonuses, allowances, and other benefits. If you have an annual bonus, you can add it to the basic annual income. For example, if you have an annual bonus equivalent to two months' salary, then the annual income is $10,000 × 14 = $140,000. Our calculator allows you to input these additional incomes to get a more accurate annual income estimation.

Estimating after-tax income requires considering income tax and social security deductions. In the United States, federal income tax uses a progressive tax bracket, ranging from 10% to 37%, depending on your income level. Social security and Medicare taxes typically account for about 7.65% of your salary. State income taxes vary by state, ranging from 0% to over 13%. Our calculator uses a simplified tax bracket to estimate after-tax income, but note that actual taxes may vary based on regional policies, personal situations, and tax deductions. For a more accurate after-tax income calculation, it's recommended to consult a professional tax advisor.

When comparing salary packages of different job opportunities, you should not just look at the base salary, but also consider the following factors: 1) Bonuses and commissions: annual bonuses, performance bonuses, sales commissions, etc.; 2) Benefits: health insurance, retirement plans, paid time off, flexible work arrangements, etc.; 3) Equity and stock options: especially in startups; 4) Career development: promotion opportunities, training and education resources; 5) Work location and cost of living: the same salary may have very different purchasing power in different cities; 6) Work-life balance: working hours, commute time, etc. Our calculator can help you calculate the basic salary comparison of different job opportunities, but for a comprehensive assessment, it's recommended to create a detailed comparison table that includes all these factors.