Amazon is raising the minimum hourly pay for its eligible full-time US operations workers by $1 to $20, the e-commerce and cloud giant said Wednesday.
The company also unveiled a new benefit, “Day 1 Financial,” giving qualified employees and their families lifetime access to low-cost banking services through First Tech Federal Credit Union.
Amazon already offers benefits such as healthcare coverage for as little as $5 per week, a free Prime membership, and prepaid education programs.
The average total compensation will now exceed $32 per hour including the value of its benefits package, the company said.
Hourly pay for Walmart’s US workers starts at $14, while Target offers a minimum hourly wage of $15, according to their websites. Last year, Costco raised its minimum wage for entry-level workers to $20 an hour, according to its annual report.