This online pay raise calculator will calculate your pay raise or cost of living (COL) raise based on either a dollar-amount increase or on a percentage increase.
If you enter a dollar amount increase, the calculator will calculate the raise percentage. Or, if you enter a raise percentage, the calculator will calculate the dollar-amount increase.
And since you can select an annual pay period and enter an annual wage, the calculator also doubles as a salary increase calculator.
Plus, the calculator will translate the effects of your pay raise into ten different time periods -- including how much the raise will add up to between now and when you plan to retire!
And finally, the calculator will even calculate the effects of investing your pay raise versus spending it, and display a bar chart showing the difference.