Craig Melvin’s ‘Today’ pay raise revealed as he prepares to replace Hoda Kotb – here’s how much he’ll make

He is on the rise.

Craig Melvin, 45, will succeed “Today” anchor Hoda Kotb when she steps down.

The move will give him a big pay bump, as Us Weekly reports he will earn around $5 million to $6 million in his new role. He would now earn $3 million per year.

Melvin became anchor of “Today” in August 2018. Five months later, he was named permanent co-host of the show’s third hour alongside Al Roker, Sheinelle Jones and Dylan Dreyer.

Kotb, 60, announced that Melvin would replace her on Thursday, November 14, while confirming that her last day on the show would be Friday, January 10.

“I’m beyond excited and grateful,” Melvin said on the show. “I have enjoyed a lifetime of blessings and this is the latest in a long line of blessings.”

Kotb told Melvin he was “literally made for this job.” She added: “You have everything this job needs. You are the right person for this.

Kotb announced his exit from “Today” after 26 years in September.

She shared the news in person with her co-anchors, including Melvin and Jenna Bush Hager.

“I spent 26 years at NBC. I just turned 60 and it was a monumental moment for me because I started thinking about that decade. I realized it was time for me to move on at 60 and try something new,” she said at the time.

“I decided it was a good time to move on,” Kotb explained, adding that she wanted to spend more time with her daughters, Haley, 7, and Hope, 5.

“Obviously I had my kids late in life and they deserve a bigger share of my time than I do,” she continued. “That being said, it’s the hardest thing in the world.”

“Craig is so awesome, people were cheering for him when they got the staff email,” a source told Us Weekly.

“He’s the best – everyone is so excited for him.”

Another insider shared, “She is truly one of the kindest, most humble, and most generous people. People are extremely happy for him. The good guy won.

“He’s been steady Eddie for 7 years – alongside Savannah and Hoda,” the first source said, referring to Savannah Guthrie.

“It was the right choice, the clear choice, the choice that everyone could support. He is so loved.

The source added that Melvin and Guthrie are “good friends” who have “spent time together with their spouses… They’ve always had a close brother-sister friendship.” Savannah loves Craig.

In an interview with E! News last month, Kotb revealed who she’d like to replace her on “Today.”

“The person I want is someone who has great chemistry with Jenna (Bush Hager),” she shared. “That’s all I want. Because it’s never about either anchor, but what lies in between. So bring on the chemistry.

The Post has contacted “Today” for comment.