1. What is a 15% Salary Hike?

A 15% salary hike means your salary increases by 15% from your current salary. This is a common raise percentage during promotions or annual increments in many organizations.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Old Salary — Your current salary before the increase
• 1.15 — Represents a 15% increase (100% + 15% = 115% or 1.15)

Explanation: The calculation multiplies your current salary by 1.15 to determine your new salary after a 15% increase.

3. Importance of Salary Calculation

Details: Understanding your new salary helps in financial planning, budgeting, and evaluating job offers or promotions.

4. Using the Calculator

Tips: Enter your current salary in USD. The value must be greater than 0. The calculator will automatically compute your new salary after a 15% increase.

5. Frequently Asked Questions (FAQ)

Q1: Is the 15% hike calculated on gross or net salary?
A: Typically, salary hikes are calculated on gross salary (before deductions), but confirm with your HR department.

Q2: How does this compare to other raise percentages?
A: 15% is considered a substantial raise. Average annual raises are typically 3-5%, while promotions may offer 10-20%.

Q3: Will taxes affect my actual take-home pay increase?
A: Yes, while your gross salary increases by 15%, your net pay increase may be different due to tax brackets and deductions.

Q4: Can I use this for other percentage increases?
A: This calculator is specifically for 15% increases. For other percentages, you would need to adjust the multiplier.

Q5: How often do companies give 15% raises?
A: 15% raises are uncommon for regular annual increases but may occur with promotions, significant role changes, or when adjusting under-market salaries.