Amazon Raises Minimum Hourly Pay by $1 for Operations Workers
Amazon has increased its minimum hourly pay for eligible full-time U.S. operations workers to $20, up from $19 per hour. The adjustment was announced on Wednesday and is part of the company's ongoing efforts to improve compensation and benefits for employees. In addition to raising wages, Amazon introduced a new benefit called 'Day 1 Financial,' offering qualified employees and their families access to low-cost banking services through First Tech Federal Credit Union. Existing perks include healthcare coverage starting at $5 per week, free Prime memberships, and prepaid education programs. The company estimates that the average total compensation for these workers now exceeds $32 per hour when including benefits. Amazon's move comes amid a competitive labor market where other major retailers like Walmart (minimum wage of $14), Target ($15 minimum wage), and Costco (raised to $20 in 2023) also offer varying levels of compensation.
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Topics: Amazon employee benefits minimum wage wages