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Chipotle, Costco, Under Armour and Other Companies Paying at Least $15 an Hour

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Bank of America

Fair Wages?

President Joe Biden has endorsed raising the federal minimum wage to $15 an hour, and the issue is still a hot topic thanks to prominent companies pledging to plump up workers' paychecks. Bank of America is the latest company to make news with a promise that it will raise its minimum wage to $25 by 2025. Here are some other notable companies trying to attract (and keep) employees with higher wages. 

Related: Can You Guess the Minimum Wage the Year You Were Born?

Bank of America

Bank of America

Workers at Bank of America were already making at least $17 an hour starting in May 2019, but the company went a step further later in the year, saying it would boost its minimum wage to $20 in 2020 — and now comes news the bank will up that minimum wage number to $25 in 2025. That represents an increase of $13 an hour since 2010, Bank of America has said. In January, it also gave lower-paid employees a one-time $750 bonus for their efforts during the pandemic. 

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Chipotle Mexican Grill Logo Sign


Plenty of restaurants are struggling to find workers as the nation continues to re-open, and Chipotle is no exception. The chain recently said it would raise its average wage to $15 an hour by the end of June, a move it hopes will help it hire at least 20,000 new employees. Restaurants say they're having a tough time finding enough staff for a number of reasons, including competition from other industries, pandemic safety concerns, child-care issues, and government aid in the form of stimulus checks and boosted unemployment benefits.

Related: Which State Has the Highest Minimum Wage?

Is Costco the Best Place to Buy a Car?


The nation's most prominent warehouse club started paying workers at least $16 an hour in March, a wage bump that comes only two years after the chain committed to a $15 minimum wage. Costco chief executive W. Craig Jelinek, who testified in front of the U.S. Senate in support of a federal minimum wage of at least $15, says the move simply makes sense for the company because it reduces employee turnover and maximizes productivity. More than half of Costco's hourly workers actually make $25 or more, Jelinek says. 

Related: Things You Probably Didn't Know About Costco



This Boston-based online furniture and home goods retailer said in January that it had bumped its minimum wage to $15, a move that would raise the pay of nearly half of its 8,000 hourly workers. The company had already been paying many workers a $2-an-hour premium during the pandemic, as well as offering other benefits such as emergency paid time off and child care support. 

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Under Armour storefront in mall

Under Armour

Starting June 6, more than 8,000 part-time and full-time workers at Under Armour (about 90% of the company's retail and distribution workforce in the U.S. and Canada) will be getting a pay raise. Starting salaries will jump from $10 an hour to $15 an hour. The increase in pay may help the company fill its 3,000 open positions.

Amazon Prime Package


Amazon started paying all of its workers at least $15 an hour in November, including the temporary and seasonal hires crucial to helping the ecommerce giant stay on top of its busy holiday season. The company has also been vocal in its support for a nationwide $15 minimum wage. Still, some critics say the wage is still paltry compared with what warehouse workers should be making, and has driven down industry averages where Amazon has opened fulfillment centers. 

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Best Buy
J. Michael Jones/istockphoto

Best Buy

This electronics juggernaut said it would begin paying workers at least $15 an hour starting in August 2020, noting that it had also been providing "incremental hourly appreciation pay" for frontline workers since the end of March. The news isn't all good, though: Best Buy recently announced it would lay off 5,000 workers and add 2,000 part-timers to better align demand with customers who are doing more of their shopping online.  

Related: 18 Critical Steps to Take When You’ve Been Laid Off

Target | 2013
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Target raised its minimum wage to $15 beginning in July. It also gave frontline workers a one-time $200 pandemic bonus. The bump in pay represents a $4 hike in three years; in September 2017, Target's starting wage was $11. The move has put pressure on Target's closest big-box rival, Walmart, which is paying a minimum wage of $11 despite having raised pay for some workers enough to bump its average to $15 an hour. 

Related: How to Help the Essential Workers on the Front Lines of the Coronavirus Fight

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Wells Fargo
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Ben & Jerry's
The Fifth Third Bank on Rochester Road in Rochester Hills, Michigan

Fifth Third Bank

Midwest-based Fifth Third joined its larger banking rivals in August 2019, saying it would increase its minimum hourly wage to $18, a move that affected nearly 5,000 of its roughly 20,000 employees. Fifth Third had previously raised its minimum wage to $15 from $12 in January 2018. 

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Mountain View, Ca/USA December 29, 2016: Googleplex - Google Headquarters with biked on foreground


It might not seem much of a stretch for a flush tech company such as Google to pay at least $15 an hour, but it didn't happen until the end of 2019. The pay bump, announced in April 2019, came in response to protests that Google's many temporary and third-party workers — reportedly half its workforce — got inadequate pay and benefits. Google also said it would require health care coverage, parental leave, and tuition reimbursement for those workers. 

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JPMorgan Chase

JPMorgan Chase

Chase workers in more than 100 cities — roughly 22,000 in total — got a raise in February 2018, bumping pay from between $12 and 16.50 an hour to between $15 and $18. Later reports put the minimum wage at $16.50 for all workers. CEO Jamie Dimon has said he's in favor of higher wages for workers, but would not commit to matching Bank of America's $20 starting wage when challenged on the issue in a hearing on Capitol Hill in 2019. 

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