Apple is increasing pay for both its employees in retail and corporate in the latter part of the year.
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ISTANBUL, TURKEY - OCTOBER 22: People wait outside the entrance to the new Apple retail store after its opening on Bagdat Caddesi on October 22, 2021 in Istanbul, Turkey.
Apple Increases Pay
The raise for its starting salary comes as the employees face skyrocketing inflation these days, making the overall cost of living more expensive than ever.
Not to mention that there has been an extremely tight labor market as well. Plus, there have been increasing efforts to unionize these days.
As per a news story by CNBC, the pay increase of the iPhone is not the first among tech giants in recent times. In fact, other tech giants, such as Microsoft and Google, have announced higher salaries for their staffers.
The latest moves from these renowned firms attempt to keep their workforce while also recruiting more promising talents along the way.
Apple New Starting Salary: How Much
The retail employees of Apple in the United States get a $22 per hour increase in their starting salary. It is worth noting that the new pay jumps up by $2 from its previous $20 rate.
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Attendees gather for a product launch event at Apple's Steve Jobs Theater on September 12, 2018, in Cupertino, California.
The Cupertino-based tech giant notes that other locations might even get better starting pay, depending on the market condition.
According to a recent report by Mac Rumors, the new starting wage at Apple impressively books roughly around a 45% increase when compared to 2018.
The iPhone maker states in its statement that "supporting and retaining the best team members in the world enables us to deliver the best, most innovative, products and services for our customers."
The spokesperson of Apple further added that the pay increase is part of their annual performance review process. It includes the budget increase in its overall compensation to its workers.
Mac Rumors adds in its story that some retail employees of Apple have started to request the tech giant for higher pay, along with other benefits like extended vacation time and better retirement packages.
Read Also: Apple Employees Air Concerns For Increased Flexibility; Pushes For Remote Work Option
Apple Retail Workers' Salary Increase
As per a previous report by Business Insider, the Cupertino tech giant previously gave its retail workforce an increase of as high as 10%.
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BERLIN, GERMANY - SEPTEMBER 16: An Apple employee hands over Apple iPhone 7 phones on the first day of sales of the new phone at the Berlin Apple store on September 16, 2016 in Berlin, Germany.
To be more precise, the salary increase of the salespeople who make sure that the latest Apple products get sold ranges from 2% to 10% last February.
With the raging inflation and the current labor market situation, Apple now plans to raise the starting salary by $2 an hour.
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This article is owned by Tech Times
Written by Teejay Boris
