Amazon Boosts Minimum Hourly Pay to $20 Amid Growing Competition

Amazon has raised its minimum hourly pay for eligible full-time US operations workers to $20 per hour, effective immediately.

The company also introduced a new benefit called 'Day 1 Financial' that provides qualified employees and their families with lifetime access to low-cost banking services through First Tech Federal Credit Union.

This is in addition to Amazon's existing benefits package, which includes healthcare coverage for as little as $5 per week, a free Prime membership, and prepaid education programs.

The average total compensation for US operations workers will now exceed $32 per hour, including the value of these benefits, according to Amazon.