Amazon.com announced on the 16th that it will raise the minimum hourly wage for full-time employees in its US operations division by $1 to $20. It also announced a new benefit, Day 1 Financial, which will allow eligible employees and their families to access low-cost banking services for life through First Tech Federal Credit Union. The company already offers benefits including health insurance starting at $5 a week, free Prime membership, and a prepaid education program, and it said that with this move, average total compensation including the value of its benefits package will exceed $32 an hour. Among competitors, Walmart's starting pay for US employees is $14 an hour, Target's minimum wage is $15 an hour, and Costco is raising the minimum wage for new hires to $20 in 2025.
Costco Wholesale CorpCostco is mentioned only as a competitor raising its minimum wage for new hires to $20 in 2025, no new development of its own.
Target Corporation
Walmart Inc.
Amazon.com IncAmazon raises minimum hourly wage to $20 and adds Day 1 Financial benefit, lifting total compensation costs/benefits for US operations staff.
