Are you curious about how much your salary might increase after a hike? If so, the our salary hike calculator tool 2023 can help you get an estimate.
This tool is designed for employees in India who want to calculate their new salary after a hike, along with the bonus amount and final salary based on their performance rating.
To use the tool, simply enter your current salary, expected hike percentage, and performance rating in the provided fields. The performance rating ranges from 1 to 4, with 1 being the lowest and 4 being the highest.
Once you've entered the input values, click the "Calculate" button to get the result. The tool will show a loader while the result is being calculated, and it will delay the display of the result by 10 seconds.
After 10 seconds, the tool will display your new salary after the hike, along with the bonus amount and final salary. The new salary is calculated by adding the hike amount to your current salary, while the bonus amount is calculated based on your performance rating.
If your performance rating is 1, you'll get a bonus of 2% of your new salary. If it's 2, you'll get a bonus of 5%. If it's 3, you'll get a bonus of 8%. And if it's 4, you'll get a bonus of 12%.
The final salary is calculated by adding the new salary and bonus amount together.
The salary hike percentage calculator tool is a great way to get an estimate of your new salary after a hike, as well as your bonus amount and final salary based on your performance rating. It's a quick and easy way to see how much your salary might increase, which can be helpful when planning your finances and career.
To calculate the percentage of a salary hike, you need to know the old salary and the new salary. You can use the following formula:
Salary hike percentage = ((New salary - Old salary) / Old salary) x 100
For example, if the old salary was Rs. 50,000 and the new salary is Rs. 60,000, the salary hike percentage would be:
(60,000 - 50,000) / 50,000) x 100 = 20%
So, the salary hike percentage in this example is 20%.