1. What is Salary Hike Calculation?

The salary hike calculation determines your new salary after a percentage increase. It's commonly used in the Philippines for salary negotiations, performance reviews, and job offers.

2. How Does the Calculator Work?

The calculator uses the salary hike formula:

Where:

• \( \text{Current Salary} \) — Your current annual salary in PHP
• \( \text{Hike Percentage} \) — The percentage increase in salary

Explanation: The formula calculates the new salary by adding the percentage increase to your current salary.

3. Importance of Salary Hike Calculation

Details: Understanding salary hikes helps in financial planning, evaluating job offers, and negotiating better compensation packages in the Philippine job market.

4. Using the Calculator

Tips: Enter your current annual salary in PHP and the hike percentage you're expecting or offered. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: How is salary hike different from bonus?
A: A salary hike is a permanent increase to your base salary, while a bonus is a one-time payment.

Q2: What is the average salary hike in the Philippines?
A: Typical annual increases range from 3-10%, but this varies by industry, company, and performance.

Q3: Should I negotiate for higher salary hike?
A: Yes, especially if you have strong performance metrics or competing offers. Research industry standards first.

Q4: How often do salary hikes occur?
A: Most companies in the Philippines review salaries annually, but some may have bi-annual reviews.

Q5: Are salary hikes taxed differently?
A: No, salary hikes become part of your regular income and are taxed according to Philippine tax brackets.