McDonald’s Corp. will become the first fast-food chain to raise its minimum wage this summer when it ups compensation at its corporate-owned locations by at least a dollar more than the local minimum hourly rate.
In all, the planned July 1 hike will average about 10 percent for the 90,000 affected workers, rising to about $9.90 per hour with the average wage expected to top $10 by the end of 2016. Subsidies for some education costs will also be available.
The move will not affect the 14,000 McDonald’s locations — 90 percent of all Golden Arches — owned by franchisees.
The move follows announcements by Wal-Mart, Target and other retailers to raise their wage floor.
If you own or operate a small to medium-sized business, managing all your employees plus meeting federal labor laws and regulations can be daunting, especially with new rules being issued all the time. To help you understand your rights and responsibilities in every facet of running a business, please order a copy of Personnel Concepts’ All-On-One HR Compliance Program for Small Businesses.