Amazon Boosts US Worker Pay to $20 Hourly, Adds Banking Benefit
Amazon has announced that it will be raising the minimum hourly pay for its eligible full-time US operations workers by $1 to $20. This move aims to improve the compensation package for employees, which already includes benefits such as healthcare coverage for $5 per week and a free Prime membership.
The company also unveiled 'Day 1 Financial', a new benefit that provides lifetime access to low-cost banking services through First Tech Federal Credit Union for qualified employees and their families.
This change brings the average total compensation for Amazon workers above $32 per hour, including the value of its benefits package. In comparison, Walmart's US workers start at $14 an hour, while Target offers a minimum hourly wage of $15. Costco recently raised its minimum wage for entry-level workers to $20 an hour.