2007-01-10 14:28:08 · 10 answers · asked by meatcutter 1 in Business & Finance ➔ Careers & Employment
People who make more than minimum will likely get a small increase, but not as sizeable. Someone who makes $5.15 will jump to $7.25, but the person who already makes $7.25 won't see their pay jump over $9.
2007-01-10 15:06:20 · answer #1 · answered by winters in buffalo 3 · 0⤊ 0⤋
Actually, yes and no. Due to the minimum wage hike, there is more money at the lower end of the economy. Temporarily, there will be a boost in demand for essential goods and services (food, gas, rent, energy...) but not so much for luxuries (sports cars, diamond rings, mansions). The increase in demand is met by both an increase in prices and an increase in production (supply) which means more money (and a raise) for higher income earners.
2007-01-10 14:48:35 · answer #2 · answered by Kilroy 4 · 0⤊ 0⤋
An increase in the minimum wage is not a raise. It's the left wing's answer to the people who don't want to work to better themselves and get better employment who want an easy quick fix to make them feel better about themselves. 5 more years from now the same people will be whining again for another increase.
2007-01-10 14:37:42 · answer #3 · answered by griffon1426 3 · 0⤊ 0⤋
I just read an extremely interesting article on this, at the following link:
http://www.msnbc.msn.com/id/16549922/
I recommend reading it for great perspectives on the minimum wage increase from all sides. One of the points it makes is that far more than just the current minimum-wage workers will be affected, as the people who currently make $7.25 will want $8.25, the people that make $8.25 will want $9.25, etc. Obviously, someone who's tenure and experience has boosted them from earning $5.15 an hour to $7.25 an hour will certainly feel that they are worth more than the minimum wage.
Last time the minimum wage increased, my job gave all hourly employees a $0.75 increase.
2007-01-10 14:38:28 · answer #4 · answered by lrachelle 3 · 0⤊ 0⤋
Not automatically. However the company probably has to raise the next level salaries to keep a differential. Then of course they have to raise the next level above that one to keep at differential. And so on, so a lot of raises result indirectly.
2007-01-10 14:33:21 · answer #5 · answered by Rich Z 7 · 0⤊ 0⤋
totally what i want to know also. i have been at my job for 29 yrs and am just now making 11 plus an hour. it bites but if i quit and start over i am back down to minimum.
2007-01-10 14:34:41 · answer #6 · answered by cindy p 3 · 0⤊ 0⤋
That would be nice but no they would not. Their raise would go in effect from the date they were hired, they get yearly reviews
2007-01-10 14:32:57 · answer #7 · answered by allseriousnogames 1 · 0⤊ 0⤋
It depends on the employer, but typically no.
2007-01-10 14:33:21 · answer #8 · answered by Lisa B 2 · 0⤊ 0⤋
no straight answer I guess...when you know for sure.. lemme know!! I have the same concern!!
2015-03-23 10:09:17 · answer #9 · answered by Brandy 1 · 0⤊ 0⤋
Heck no.
2007-01-10 14:59:35 · answer #10 · answered by kingstubborn 6 · 0⤊ 0⤋