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Photo: Costco Wholesale Created: February 25, 2021 09:49 PM
NEW YORK (AP) - Costco will increase its starting wage to $16 an hour, surpassing most of its main competitors at a time when efforts to raise the minimum wage are gaining traction in the U.S.
Costco CEO Craig Jelinek announced the increase Thursday at a Senate Budget Committee hearing, led by Sen. Bernie Sanders, to examine wages at major companies.
Jelinek said the starting wage for Costco employees would rise to $16 next week, up from $15 the company instituted two year ago.
The starting wage scale puts Costco above competitors including Amazon, Target and Best Buy, which have $15 minimum wages. Walmart’s starting pay is $11 an hour.
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