College News, Entrepreneurship

Amazon is Increasing Their Minimum Wage Starting November 1st

Amazon Increasing Their Hourly Rate 

Amazon is increasing their minimum wage starting November 1st to $15 an hour.

For college students that will need a job during the summer, Amazon should be the first place they sign up. 

Since most college students tend to be seasonal workers this will be very beneficial for those who work during winter and summer break.

250,000 employees will benefit from Amazon increasing their minimum wage and that will include:

  • Part-time employees
  • Temporary (Includes people who were hired by an agency) employees
  • Seasonal employees
  • Full-time employees

Amazon also stated that employees who are already making more than $15 an hour will also get a pay raise.

The wage increase will  benefit the employees at Whole Food, which Amazon purchased for 13.7 billion, as well.

With the pay increase, Amazon employees will be paid double the national average which is only $7.25 an hour.

The billion-dollar e-commerce giant also stated they will start lobbying for an increase in the national minimum wage.

Amazon is expected to hire more than 100,000 workers this holiday season, so put your application in today.

Amazon hopes that the increase in minimum wage will increase their quarterly earnings. Shares of  Amazon have been trading at a lower amount and the company hopes to offset this by increasing pay.

History of Amazon’s Hourly Wage 

Last month the company came under fire for paying their employees’ low wages.

Bernie Sanders introduced the “Bezos Act” which would tax corporations for every dollar their lower-wage workers received in food stamps and government health care.

After Amazon revealed their pay increase, Bernie Sanders responded with “What Mr. Bezos has done today is not only enormously important for Amazon’s hundreds of thousands of employees, it could well be, a shot heard around the world”.

Clearly, Sanders is impressed with Amazon’s move and expects companies to react to the big announcement.

Bezos, the founder of Amazon, stated: “we listened to our critics, thought hard about what we wanted to do, and decided we want to lead”.

Since Amazon is only the second trillion dollar company in modern history, this will surely have an impact on how other companies compensate their employees. 

Amazon has become a powerhouse in the e-commerce business.  According to reports by CNBC, the e-commerce giant willtake almost 50 percent of the U.S e-commerce market by year’s end“, which is why the company is worth a trillion dollars. 

Will you be applying to Amazon this winter and summer break? 


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