Raise Request Calculator
Quantify and justify a request for a salary increase by calculating the impact of a raise and comparing it to inflation.
Quick Use Samples
Your Situation
Raise Recommendation
Supporting Arguments
- •Good performance supports solid raise request
- •2 years of experience in role demonstrates commitment
Next Steps
- • Schedule a meeting with your manager
- • Prepare a list of your achievements
- • Research market rates for your role
- • Be prepared to discuss your future goals
Based on your inputs, a reasonable pay rise request would be 6.2%. This equates to an annual increase of $4,650, bringing your new salary to $79,650. The confidence score of 90% reflects the strength of your case based on performance, tenure, and other factors.
Current vs. Requested Salary
Future Value of this Raise
This shows how this single pay rise can grow over time through future raises and investments.
*Assuming 3% annual growth/investment returns.
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What is a Raise Request Calculator?
A Raise Request Calculator is a tool to help you quantify and justify a request for a salary increase. It allows you to calculate the financial impact of your desired raise in percentage and dollar terms, and see how it compares to inflation. This helps you build a clear, data-driven case to present to your manager during a performance review or salary negotiation.
Behind the Formula
The calculator takes your current salary and applies your desired raise percentage to determine your new potential salary. It calculates the dollar value of the increase on an annual, monthly, and weekly basis. Crucially, it also compares your requested raise to the current inflation rate (Consumer Price Index in Australia) to show if your raise will lead to a 'real' increase in your purchasing power.
Expert Insights
- A successful raise request is based on your value and achievements, not just your personal financial needs. You need to demonstrate how you have exceeded expectations and contributed to the company's success.
- Timing is everything. The best time to ask for a raise is after a significant achievement, such as successfully completing a major project, or during a formal performance review. Don't ask during a period of poor company performance.
- Know your market rate. If you can show that the average salary for your role and experience in your city is higher than what you are currently paid, it provides a powerful, objective justification for your request.
Actionable Tips
- Create a 'brag file'. Throughout the year, keep a record of your accomplishments, positive feedback from clients or colleagues, and any metrics that demonstrate your success. Use this as evidence to support your raise request.
- Practice your pitch. Role-play the conversation with a friend or mentor. Be prepared to clearly and confidently articulate your value and the reasons you deserve the raise.
- Be prepared for a 'no'. If your request is denied, ask for specific feedback on what you need to do to earn a raise in the future. Request a clear timeline for a follow-up review. This turns a rejection into a constructive plan.
Real-World Examples
Exceeding Sales Targets
A sales executive who exceeded their annual target by 30% uses the calculator to request a 10% raise. They present their sales figures alongside the raise calculation to show that their performance justifies the increase.
Beating Inflation
An employee sees that inflation (CPI) for the year was 4%. They use the calculator to request a 5% raise, explaining that this would represent a 1% 'real' pay increase and reward them for their solid performance.
Aligning with Market Rate
A software developer researches industry salary guides and finds they are paid $15,000 below the market median. They use the calculator to request a raise that would bring their salary in line with the industry average, presenting their research as justification.
Glossary of Terms
Market Rate
The average salary or wage for a particular job in a specific industry and location.
Consumer Price Index (CPI)
A measure of the average change over time in the prices paid by households for a fixed basket of consumer goods and services. It's the most common measure of inflation in Australia.
Purchasing Power
The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.