This tool can help you calculate a pay raise, or pay cut, based on a percentage for both salaried and hourly employees. To use it, select the appropriate form and enter the hourly wage or the current annual salary. The calculator assumes a 40-hour work week, but you can adjust that.

Next, set the percentage increase. To enter a decrease, just add a minus sign before the percent. The calculator will show you the old and the new salary, the change from the current salary, and the change in the hourly rate.

Calculators like this are handy but they don’t track employee time, when pay rates change or store two years of historical data that the government requires from every business. That’s why you need Timesheets.com. We have built-in features to manage pay rates, performance reviews, expenses, and of course time tracking. You can try Timesheets.com for free and use it for 15 days. We charge less than $5 per user so click on the free trial button right now and see what you think.