How Do I Calculate a 30% Salary Hike on My $144,000 CTC? Seeking Your Guidance

Dear Professionals,

Kindly help me out with how to calculate a 30% hike for my current salary. My current CTC is $144,000. Please let me know the formula as well.

Thanks and Regards,
Hari

Very simple formula for your problem is:

Example:
1. Your CTC per month is Rs.10,000.
2. 30% hike on Rs.10,000 is Rs.3,000 (30/100*10,000).
3. Your Monthly CTC is Rs.13,000.

Unless you provide a break-up of your CTC, it is difficult to calculate the new figure after a 30% hike. There may be fixed components in your salary and percentage components. For example, if your basic is 10,000 and HRA (20% of Basic) is 2,000, that amounts to 12,000 x 12 = 144,000. A 30% hike will result in a 30% hike on Basic = 10,000 + (30% of 10,000) = 13,000, and HRA will automatically increase to 2,600, giving you a total salary of 15,600.

If your salary breakup is Basic 10,000, HRA 15% of Basic (1,500), and Conveyance Allowance is 500 (fixed), then only a 30% hike in Basic will not make the salary 15,600 unless you also increase the conveyance by 15% (from 500 to 650). So, do the calculations after obtaining the breakup of your CTC.