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McDonald’s to pay $1 an hour over minimum wage

Starting July 1, McDonalds will pay at least $1 per hour more than the local minimum wage for the approximately 1,500 restaurants it owns in the U.S., the Wall Street Journal said.

By Craig Giammona | Updated on April 01, 2015
Photo: AP

(Bloomberg) — McDonald’s Corp. will raise pay at company- owned locations to at least $1 more than the local minimum wage and begin offering vacation benefits, aiming to gain an edge on rivals in an increasingly competitive labor market.

The move, which takes effect on July 1, will apply to more than 90,000 workers, the Oak Brook, Illinois-based company said Wednesday in a statement. It won’t affect the more than 90 percent of restaurants that are run by franchisees. By the end of 2016, the fast-food chain expects workers at company-owned locations to earn more than $10 an hour on average.

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