Free Raise Calculator: What a Raise Means Per Paycheck
A 4% raise sounds good, but what you'll notice is the change in each paycheck. Enter your current pay and the raise (as a percent, or the new amount if you know it) to see the difference per year, per month and per paycheck.
It runs in your browser. Nothing you type is saved or sent anywhere. The numbers filled in below are a made-up example; change them to yours.
How the math works
- New pay = current pay × (1 + raise %). Hourly pay is turned into yearly pay as rate × hours a week × 52.
- Extra per paycheck = (new yearly pay − current yearly pay) ÷ paychecks a year.
- The after-tax column just takes your rough percent off the extra. Your real take-home depends on your tax bracket, state, benefits and retirement contributions.
Example (made up): $45,000 a year with a 4% raise is $46,800, $1,800 more a year. That's $150 a month, or about $69.23 per paycheck if you're paid every two weeks. After about 25% in taxes and deductions, it's about $51.92 more per check.
Deciding where the extra goes before the first bigger check lands makes it easier to save it instead of spending it. This is an estimate for planning, not tax advice.
Give the extra a job
The Paycheck Budget Spreadsheet ($7) shows what each check covers and what's left: enter your pay schedule and bills, with tabs for spending, debt and savings. Works in Excel and Google Sheets.
Get the spreadsheet on Gumroad – $7
This template is also in the Complete Household Money Bundle (what's inside): all 13 home money spreadsheets for $29 (about $69 if bought one by one).
We make this template, so take that into account. The calculator above is free to use either way.
Related free guides
- What to Do With a Raise (Example Numbers)
- How to Budget by Paycheck (Biweekly Budget Guide)
- How to Budget Your First Paycheck (First Job Guide)
- How to Budget a Paycheck With Overtime or Tips
More free tools: all calculators.
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