Question: how to calculate salary increase formula?
Answer: First, multiply the percentage by the employee's current annual wages: $50,000 X .04 = $2,000. Next, add the employee's current annual salary to the raise amount: $50,000 + $2,000 = $52,000. Take the employee's new annual salary and divide it by 26: $52,000 / 26 = $2,000.