I spend $400 a month on gas because of my long commute. Work from home is definitely a raise in my situation. Gas bill goes down to $100 a month. Works out directly to a 5% raise just in gas alone. Car insurance can be switched to leisure only saving money further. Gain an extra two hours a day which were unpaid before, so my workday is now only 8 hours instead of 10, that is another equivalent to 25% on an hourly rate indirectly.

Then there is all the other benefits such as just being happier and more productive.