Starbucks raising wages at least 3% starting Jan. 1
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Starbucks announced Monday that it is raising wages for its workers at least 3% starting next year as part of an expanded benefits package the company is hailing as being «well beyond the industry average.»
The coffee giant said «Effective January 1, eligible U.S. retail hourly partners will see an incremental pay increase come to life, with at least a 3% increase and differentiated pay for eligible tenured partners.»
Starbucks adds that eligible employees with 2-5 years of service will see at least a 4% raise, while those with five or more years will get at least 5%. A spokesperson for Starbucks told FOX Business that there will be no menu price increases to offset the wage increases.
«Starting with competitive pay — Starbucks provides U.S. hourly retail partners an average wage of nearly $17.50 per hour, a barista wage range between $15 and $24 per hour and a total compensation, with benefits, of approximately $27 per hour,» Starbucks said in a press release.
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A barista froths milk for a drink inside a Starbucks coffee shop in New York in January 2016. (Victor J. Blue/Bloomberg via Getty Images / Getty Images)
The expanded benefits also include accruing paid vacation time sooner, «innovative financial well-being and skills-building benefits, partner-centric scheduling, and the introduction of the first-ever North America Barista Championship,» according to Starbucks.
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A barista places an iced coffee in the mobile pickup area at a Starbucks location in New York on Aug. 17, 2023. (Gabby Jones/Bloomberg via Getty Images / Getty Images)
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