The push to increase the minimum wage to $15 per hour continues and more companies are embracing the change.
Several companies are announced plans to bump the minimum wage up to $15 an hour. There are also quite a few that are already there or offer a minimum wage even higher than that. Let’s take a look at a few of them below.
Companies Paying a Mimumun Wage of $15 or More
- Under Armour (NYSE:UA) revealed plans recently to increase its minimum wage from $10 per hour to $15 per hour. This change goes into effect on June 6.
- Chipotle Mexican Grill (NYSE:CMG) isn’t increasing its minimum wage to $15. However, it notes that recent pay changes have its average wage at $15.
- Amazon (NASDAQ:AMZN) is well ahead of others, having increased its minimum wage to $15 per hour for all employees in 2018.
- Target (NYSE:TGT) is on its way to a $15 an hour minimum wage with pay changes that go into effect early next month.
- Costco Wholesale (NASDAQ:COST) is one-upping the companies above by recently increasing its minimum wage to $16 an hour for all workers. This change went into effect in March of this year.
- Bank of America (NYSE:BAC) has been consistently increasing its minimum wage. The current is $20 an hour, which was set in place in 2020 from $17 per hour in 2019. The company plans to increase its minimum wage to $25 an hour by the time 2025 gets here.
- Best Buy (NYSE:BBY) closes out the list as a company that is already paying its employees a minimum wage of $15 an hour. It adopted this new minimum wage in August 2020 after bumping up pay for employees during the novel coronavirus pandemic.
Investors looking to catch up on other recent news can keep reading.
It may be the last day of trading this week but there’s no shortage of topics to discuss. That includes Reddit’s favorite penny stocks today, Annovis Bio (NYSEMKT:ANVS) stock on the rise, as well as gaining interest in liquid electricity stocks. You can learn all about these subjects at the links below.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.