So I thought people should know that US Bank decided to bump the company minimum wage to 18/hr. Once the plan is implemented by summer time, everyone who is below that rate will be bumped up to that rate. Full disclosure that I will be experiencing a bump from this raise. And with my 10% shift differential I'll be up to basically 20/hr.
I think this is a really good thing to do overall considering inflation but there are two issues I see with it.
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This pay bump essentially negates any raise that we got for last year. So if you got a 3 to 5% raise and that raise put your base pay rate still below 18, then it's basically like you didn't get a raise at all because someone walking in the door day 1 will be making that same amount.
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Even tho this doesn't effect me cause I will be getting a bump from this, people who have been here a long time aren't happy about this. Imagine you work here 10 or 20 years and work your ass off earning raises and then this policy happens and then someone walking in day 1 with no experience gets paid a similar amount as you. It would feel like your time there was for nothing.
Now this would be fixed if everyone who is already making over 18 get a small bump as well to compensate but that's not gonna happen. I know because a few years ago they did this same policy but it was 15/hr and the ppl who've been here awhile got no bump meanwhile I was a new hire starting off making as much as it took them years to build up to.
So what do you think about all this?