Amazon Boosts U.S. Employee Pay to $20 Hourly
Amazon has announced that it will raise its minimum starting wage for U.S. full-time core operations employees to $20 per hour, effective immediately. This move marks a significant increase from the previous minimum wage and represents a pay rise of more than 17% over the past three years.
The company is investing over $1.5 billion in these pay increases, which will also see average pay reach nearly $24 per hour for eligible employees. Amazon's total compensation package already exceeds $32 per hour when including benefits such as healthcare and paid parental leave.
In addition to the wage hike, Amazon has introduced a new banking benefit called Day 1 Financial. This service provides employees with access to no-fee checking and savings accounts through First Tech Federal Credit Union, along with reimbursement for out-of-network ATM fees up to $300 annually.
The company is also launching grocery discounts of 10% off eligible items on Amazon.com and Whole Foods Market online, as well as 20% off in-store at Whole Foods Market. These discounts are uncapped and can be combined with existing Prime member benefits.