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Big-Name Companies Paying at Least $15 an Hour

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The Apple Computers Store in Sydney Australia
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Fair Wages?

President Joe Biden has endorsed raising the federal minimum wage to $15 an hour, and although Congress has not acted, prominent companies have been plumping up workers' paychecks on their own. Here are some other notable employers trying to attract (and keep) workers with higher wages, including Apple, which is now offering a starting wage of $22 — a number that's becoming less and less of a reach at many companies.


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

Apple Store in New York City
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Bank of America
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Bank of America

Bank of America is continuing to boost its minimum wage. Its latest wage hike brings the massive bank's minimum to $22 an hour, just seven months after another jump to $21 per hour. The increases are part of the company's goal of paying a minimum wage of $25 by 2025. That represents an increase of $14 an hour since 2010, Bank of America has said.


Related: These Big Banks Have Cut Down on Fees

Verizon Wireless Store, Cheyenne, Wyoming
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Verizon

The nation's largest mobile carrier is falling in line with competitors like T-Mobile and AT&T and upping its minimum wage. The company recently announced that its retail, sales, and customer service staff will now make at least $20 an hour. New hires will enjoy the updated wages and existing employees will have their rates automatically adjusted. Verizon will also be offering sign-on bonuses for certain in-demand positions.


Related: The Most and Least Affordable Cities for Minimum-Wage Earners

Target | 2013
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Target

Target raised its minimum wage to $15 beginning in July 2020, and it's not done: The company recently announced that some of its workers will make as much as $24 an hour in competitive markets as it invests $300 million in its workforce. The move puts pressure on Target's closest big-box rival, Walmart, which pays a minimum wage of $12 an hour despite having raised pay for some workers enough to bump its average to $15 an hour. 


Related: 10 Reasons Target Shoppers Avoid Walmart

Hobby Lobby Retail Store
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Hobby Lobby

Though it's become infamous for its evangelical CEO's controversial policies, Hobby Lobby pays its employees pretty well, and the craft chain is raising its minimum wage again. Starting this year, all full-time hourly employees will be making at least $18.50 per hour, and they've been making at least $15 since 2014. Hobby Lobby instituted a company-wide minimum wage in 2009, and in the 13 years since, it has increased the minimum wage a dozen times. 


Related: Giant Companies You Didn't Know Are Family-Owned

Family Walking At Ikea Store After Shopping
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Ikea

Ikea, the global flat-pack furniture giant, has increased its starting pay for U.S. employees. Beginning this year, new hires — including full time, part time, temporary, and seasonal employees — will earn at least $16 per hour, or even a couple bucks more depending on location, according to Fast Company. Benefits will also be beefed up, including a minimum of five weeks of PTO. And thanks to a record sales year, the company will also be doling out performance-based bonuses to the tune of $76 million in total. That could buy a lot of Billy bookcases.


Related: 25 Ikea Products to Buy — and 25 to Skip

Macy's
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Macy's

The nation's most dominant department-store chain says its workers will make at least $15 an hour by May, bringing average base pay to more than $17 an hour and average total pay to $20. But that's not all: Macy's will also cover the cost of workers' college tuition, books, and fees, joining retailers including Amazon and Target that are offering educational perks in an effort to beef up their workforce.

Is Costco the Best Place to Buy a Car?
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Costco

Costco started paying workers at least $16 an hour in March 2021, and now comes news the company will be offering a minimum of $17 an hour. "These increases are part of Costco's continuing efforts to ensure our hourly wages remain extremely competitive in the retail industry," Costco CEO Craig Jelinek said in a memo to employees in October. More than half of Costco's hourly workers actually make $25 or more, Jelinek says. 


Related: Things You Probably Didn't Know About Costco

Starbucks
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Starbucks

Starbucks employees will also be seeing fatter paychecks soon. Hourly workers will see a minimum of $15 an hour, with an average of $17 an hour, by summer 2022. Also, beginning in January, workers who've been with the company for at least two years received up to a 5% raise, and those with five years of service saw as much as a 10% pay bump, reports USA Today. Starbucks is already one of the few companies that offers part-time workers health benefits and other perks such as tuition reimbursement. 


Related: 16 Things You Didn’t Know About Starbucks

Williams-Sonoma at The Summit in South Reno
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Williams-Sonoma Inc.

The upscale home retailer recently raised its minimum wage to $15 per hour, effective immediately, for all workers. Williams-Sonoma Inc. owns the eponymous cooking and kitchen retailer, as well as Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Williams Sonoma Home, Rejuvenation, and Mark & Graham.

Sam's Club
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Sam's Club

Sam's Club said that all workers will make at least $15 an hour, a decision that took effect at the end of September 2021. The vast majority of Sam's associates already made at least that much, the store said, and the average hourly rate is more than $17. Walmart, parent of Sam's, also recently raised the minimum wage for workers in its stores, but not quite to the $15-an-hour mark: Its minimum wage is now $12 an hour, according to CNBC. 

Walgreens
Walgreens

Walgreens

Following in the footsteps of its major competitor, CVS, Walgreens boosted its hourly wage to $15 for all employees starting in October, with the increase scheduled to be fully implemented later this year. This comes after a pandemic hiring spree, during which Walgreens added 25,000 full-time and part-time employees. 


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Best Things to Buy at Aldi
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CVS
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CVS

CVS announced in August that wages for hourly workers will reach at least $15 an hour by July 2022. The pharmacy retailer is also boosting starting rates for positions such as pharmacy technicians and call center representatives above $15. A majority of existing employees don't have to wait for the increase: Roughly 65% already make more than $15 an hour.


Related: Companies Dangle Ever-Bigger Perks to Lure Reluctant Workers

Chipotle Mexican Grill Logo Sign
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Chipotle

Plenty of restaurants are struggling to find workers, and Chipotle is no exception. The chain said it would raise its average wage to $15 an hour by the end of June of 2021, a move it hoped would 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?

Wayfair
Wayfair

Wayfair

This Boston-based online furniture and home goods retailer said in January 2021 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. 


Amazon Prime Package
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Amazon

Amazon started paying all of its workers at least $15 an hour in November 2020, 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. 

Best Buy
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Best Buy

This electronics juggernaut said it would begin paying workers at least $15 an hour starting in August 2020.  


Best Router Systems
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Charter Communications

This parent company of Spectrum Internet said in April 2020 that it would raise starting pay to a minimum of $20 an hour over the next two years. The company had already been paying employees at least $15 an hour. 


Wells Fargo
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Wells Fargo

Perhaps spurred on by its faster-acting banking rivals, Wells Fargo said in March 2020 that workers in many of its higher cost-of-living markets would be paid at least $20 an hour by the end of the year. The mega bank had already raised its minimum wage to $15 in March 2018.

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

Try Facebook First
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Facebook

Facebook has paid its workers at least $15 an hour since 2015, but the company said in May 2019 that it would commit to at least a $20-an-hour wage in high cost-of-living markets such as San Francisco, New York, and Washington, D.C. The announcement came on the heels of criticism that the social network's content moderators were underpaid, especially given the stressful nature of their jobs. 

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

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. 

Walt Disney World Resort
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JPMorgan Chase
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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. 

Cigna
Cigna

Cigna

In January 2018, Cigna committed to paying its workers at least $16 an hour, with many employees getting salary increases beyond that mark. It also said it would pump $30 million into 401(k) matching so that employees would get an additional 1% contribution match for the year. 


Aetna Office

Aetna

One of the nation's largest health insurers was one of the first big companies to announce that all of its workers would make over the $15-an-hour threshold, pledging a minimum wage of $16 for all workers starting in April 2015. The move averaged out to an 11% pay bump for employees, though some saw as much as a 33% raise.