A salary increase is a term used to describe an increase in your pay, but it can also be referred to as a pay raise, salary hike, pay bump, wage boost, or salary uptick. These terms all refer to the same concept of receiving more money for the work you perform. A salary increase can be given as a result of good job performance, promotion, or market demand. Regardless of how it is received, a salary increase is always a positive change in one's financial situation and can provide a sense of job satisfaction and motivation to continue to perform at a high level.