This year has been exciting for workers in California and across the country. In many states, minimum wage workers in key markets have scored significant victories with regards to wages and benefits, and it appears that other states are following suit and increasing wages for entry-level employees. Now, even some large corporations are starting to start the process of raising employment compensation proactively for its employees. During the next few years, however, wage disputes may erupt as workers and companies strive to find a balance in the new competitive landscape.
According to a recent article, JPMorgan has announced that the lowest wage it will pay its workers throughout the country will be $12 per hour as of February 2017. The amount of the wage hike will depend upon market and geographic factors. This increase will put 90 percent of the company’s lowest-paid workers at the $13 – $16.50 per hour range.
The workers most affected by this are customer service representatives and branch office tellers. In all, it will affect around 18,000 U.S. workers. This landmark decision by the nation’s largest bank will undoubtedly influence other large corporations. In fact, Starbucks has also announced an increase in wages and benefits to its employees on the heels of JPMorgan’s announcement.
During this time of transition, California workers in minimum wage jobs may be involved wage disputes while new minimum wage laws are implemented. It is important for workers in minimum wage jobs to be educated on the most recent changes and policies. Workers may benefit from advice provided by California attorneys who are educated in the most recent changes and issues facing minimum wage workers.
Source: CNN, “18,000 JPMorgan Chase tellers and branch workers are getting raises“, Chris Isidore, July 12, 2016