Workflow
McDonald's is in the spotlight lately: what is the hourly pay for employees?
MCDMcDonald's(MCD) Fox Business·2024-10-22 10:11

Core Insights - The fast food industry, particularly McDonald's, is experiencing wage increases influenced by federal and state minimum wage laws, with some workers earning up to 20perhour[1][2]−McDonald′shasimplementedaphasedwageincreaseforitscompany−ownedrestaurants,aimingforanaveragehourlywageof20 per hour [1][2] - McDonald's has implemented a phased wage increase for its company-owned restaurants, aiming for an average hourly wage of 15 by 2024 [2] - Recent legislation in California has raised the minimum wage for certain fast food restaurants to 20,reflectingabroadertrendtowardshigherwagesintheindustry[3]WageStructure−TheaveragehourlypayforMcDonald′sjobsnationwideisapproximately20, reflecting a broader trend towards higher wages in the industry [3] Wage Structure - The average hourly pay for McDonald's jobs nationwide is approximately 13.27, with variations based on location, job title, and experience [1] - In 2021, McDonald's increased wages for its owned restaurants by an average of 10%, setting entry-level crew wages between 11and11 and 17 per hour, and shift managers between 15and15 and 20 per hour [2] - Franchisees, which operate over 95% of McDonald's locations, have the autonomy to set their own wages, leading to some franchisees in New York exceeding the 15minimumwage[2]LegislativeImpact−California′snewlaw,effectiveApril1,raisedtheminimumwageforcertainfastfoodrestaurantsfrom15 minimum wage [2] Legislative Impact - California's new law, effective April 1, raised the minimum wage for certain fast food restaurants from 16 to 20,equatingtoanannualsalaryof20, equating to an annual salary of 41,600 [3] - The legislation aims to improve wages, working conditions, and training for fast food workers, as stated by California Governor Gavin Newsom [3]