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| Salary Formula: Future Salary = FV(Current Salary, Salary Increase %, Number of Years) | |||
Salary Definition The Salary Calculator will calculate what your future salary will be if you enter in your current salary, the expected percentage increase in your salary per year, and then the number of years out in the future that you want to predict your salary for. It is typical for employers to increase an employee’s salary at least 3% to 5% every year to adjust for inflation and and increased cost of living (although this is not required). On top of this number you will likely want to add an additional percentage to account for merit salary increases. Check out the free online salary calculator and all of our other online calculators! How to Calculate Salary Let's be honest - sometimes the best salary calculator is the one that is easy to use and doesn't require us to even know what the salary formula is in the first place! But if you want to know the exact formula for calculating salary then please check out the "Formula" box above. |