💰 Pay Raise Calculator
Calculate new salary and dollar increase from a percentage pay raise.
How to Negotiate a Pay Raise
The average US annual raise is 3–4%. A cost-of-living raise just keeps pace with inflation — real compensation growth comes from merit raises (5–10%), promotions (10–20%+), or job changes (10–30%+ for most workers). Research shows employees who change jobs every 2–3 years earn 50% more over a career than those who stay at the same company.
People Also Ask
In 2024, a 5%+ raise beats inflation and represents real compensation growth. A 3–4% raise keeps pace with inflation but provides no real increase in purchasing power. A raise below inflation is effectively a pay cut in real terms. When negotiating, benchmark your market rate first — a 15–20% ask backed by market data is far more persuasive than simply requesting 'more.'
Don't wait if you have leverage: a competing offer, a recent major win, or a promotion opportunity. Annual reviews are the expected time, but raises can happen any time. Having a competing offer in hand is the single most powerful negotiating tool — it gives your employer a concrete deadline and market data.