Personal Finance
New salary
Multiply the current salary by one plus the raise percentage.
The Formula
New = old x (1 + raise)
Multiply the current salary by one plus the raise percentage.
| Symbol | Meaning | Unit | Notes |
|---|---|---|---|
| Old | Current salary | currency | Salary before the raise. |
| r | Raise rate | rate | Increase as a decimal. |
What Each Symbol Means
Oldcurrency
Current salary
Salary before the raise.
rrate
Raise rate
Increase as a decimal.
See It Worked With Real Numbers
A formula on its own does not tell you which number goes where. The how to calculate a pay raise page applies this equation to a concrete case, shows every intermediate step, and names the mistakes that produce a wrong answer even when the algebra is right.
Where This Formula Appears
This equation is the working core of How To Calculate A Pay Raise, filed under Finance. Every number the guide produces comes from substituting into this one line.