How Much Is a 2 Percent Raise Per Hour?

Want to find out how much a 2 percent raise per hour would be for your employees? Read on to learn more. As an employer, you know that giving raises is an important part of keeping your employees happy and motivated. But how much should you give? A 2 percent raise is a common amount, but there are a few things to consider before making a decision.

The Current Salary vs Amount Increase

The first thing to consider is your employee's current salary. A 2 percent raise per hour for someone making $15 per hour is only $0.30 per hour, while a 2 percent raise per hour for someone making $25 per hour is $0.50 per hour.

Current Wage	2% Raise
$15	0.30
$20	0.40
$25	0.50
$30	0.60
$35	0.70

The Cost of Living

The cost of living also plays a role in determining how much of a raise to give. If your employees live in an area with a high cost of living, a 2 percent raise per hour may not be enough to keep up with inflation.

|Location|Inflation Rate|

|:--|:--;|

|San Francisco, CA|3.7%|

|New York, NY|2.7%|

|Los Angeles, CA|2.6%|

|Chicago, IL|2.3%|

|Dallas, TX|2.1%|

The Company's Budget

Of course, you also need to consider your company's budget when determining how much of a raise to give. If you don't have the money to give everyone a 2 percent raise per hour, you may need to give smaller raises or find other ways to reward your employees.

Success Stories

[Company A] gave all of its employees a 2 percent raise per hour and saw a 5% increase in productivity.

[Company B] gave its top performers a 3 percent raise per hour and saw a 10% increase in sales.

[Company C] gave all of its employees a 1 percent raise per hour and saw no change in productivity or sales.

FAQs About “How Much Is a 2 Percent Raise Per Hour”

What is a fair raise? A fair raise is one that is commensurate with the employee's performance, the cost of living, and the company's budget.

How often should I give raises? Most companies give raises once a year.

What are some other ways to reward employees? In addition to raises, you can also reward employees with bonuses, promotions, or other perks.

How Much Is a 2 Percent Raise Per Hour?