1. What is the Salary Hike Calculator?

The Salary Hike Calculator helps employees in India calculate their new salary after a percentage increase. It's useful for salary negotiations, performance appraisals, and job offer comparisons.

2. How Does the Calculator Work?

The calculator uses the salary hike formula:

Where:

• Current Salary — Your current annual salary in INR
• Hike Percentage — The percentage increase in salary

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

3. Importance of Salary Hike Calculation

Details: Understanding how salary hikes work helps in financial planning, comparing job offers, and negotiating better compensation packages.

4. Using the Calculator

Tips: Enter your current annual salary in INR and the expected hike percentage. The calculator will show your new salary and the hike amount.

5. Frequently Asked Questions (FAQ)

Q1: Is the hike percentage calculated on basic or gross salary?
A: Typically, hikes are calculated on your gross salary (CTC), unless specified otherwise by your employer.

Q2: How often do companies in India give salary hikes?
A: Most companies provide annual hikes during appraisal cycles, typically between April-June.

Q3: What is the average salary hike in India?
A: Average hikes range from 7-15% for regular appraisals, while promotions may bring 20-30% increases.

Q4: Are salary hikes taxable?
A: Yes, the increased salary amount is subject to standard income tax as per your tax slab.

Q5: How does this compare to switching jobs?
A: Job switches typically offer 20-40% hikes, but consider other factors like career growth and job stability.