Amazon is increasing the minimum hourly pay for eligible full-time operations workers in the United States by $1 to $20 an hour, the company announced Wednesday.
The latest increase means eligible employees in affected operations roles will now have a minimum starting wage of $20 per hour. Amazon said average total compensation, including the value of employee benefits, will exceed $32 an hour.
For a full-time employee working 40 hours a week, a $20 hourly wage translates to roughly $41,600 a year in base pay, before taxes and excluding overtime, bonuses and benefits.
Amazon is also introducing a new financial benefit called “Day 1 Financial.” Qualified employees and their families will receive lifetime access to low-cost banking services through First Tech Federal Credit Union.
The company already provides benefits including healthcare coverage, free Prime membership for eligible employees and prepaid education programs.
Amazon said the latest wage increase builds on its previous investments in pay and benefits for its U.S. hourly workforce, as major retailers continue competing for employees through wages and benefits.
