In this article
Follow your favorite stocksCREATE FREE ACCOUNTAn Amazon Delivery sign is pictured on the upper exterior facade of an office building in West Jordan, Utah, United States, on August 29, 2026. Charles-McClintock Wilson | Nurphoto | Getty ImagesAmazon.com is raising the minimum hourly pay for its eligible full-time U.S. operations workers by $1 to $20, the e-commerce and cloud giant said on 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 U.S. 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.
Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.