Target to Raise Minimum Wage to $15 Next Month

Credit: The Wall Street Journal

The retail giant is making gradual improvements for its employees.

Beginning July 5, Target will raise its minimum wage to $15 per hour and will give all hourly employees a one-time bonus of $200. The retailer had temporarily raised its wages by $2 an hour back in March amid rising coronavirus cases. The bonuses recognized both part-time and full-time employees and will be paid out by the end of next month, according to the company. Part of the benefits package during the pandemic includes free backup care for employees’ children or needy adults through August, free mental health counseling and paid leave for employees at higher risk of contracting the virus.

Currently, there are more than 350,000 employees and nearly 1,900 stores across the U.S. Last June, Target raised its minimum wage to $13 an hour. This was part of the company’s plan and pledge to increase its starting hourly pay from $10 to $15 over three years.

Credit: Gado via Getty Images

This week will also see employees receive a new benefit: free access to virtual doctor visits through the end of the year, even if health insurance does not come from Target.

Target’s increasing pay gap rivals other big retailers like Walmart whose hourly wages start at $11 an hour and Amazon whose wages start at $15 an hour.

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