2007-07-11 18:09:36 · 4 answers · asked by Anonymous in Business & Finance ➔ Corporations
Any company paying less than the new minimum of $5.85 an hour will be required to raise anyone under that to the new minimum when it goes up. Employees already at $5.85 or more do not have to be given increases though, it's just for those under the new minimum wage.
2007-07-11 19:14:56 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
Well, anyone not meeting the minimum will receive a pay increase to meet said minimum. If that pay increase is accordingly passed along to those who already receive a higher rate, that will be up to the execs of the corp. Personally, though, I think an increase in the minimum wage does not usually mean an increase is those respective employees' pocket money. Eventually, in order to cover the cost of higher overhead, the company's merchandise will be sold at a higher price. This goes for ALL companies who have minimum wage employees. So, for those people to buy things they need, they're going to end up paying higher prices. Net result, same amount left over in their pockets from their pay raise, unless they start buying less of the things they're used to having.
2007-07-12 01:21:27 · answer #2 · answered by quntmphys238 6 · 1⤊ 1⤋
it has to, I used to work there and everytime mimium went up my pay increased, the employees were always kept a certain amount above minimum wage.
2007-07-12 01:19:04 · answer #3 · answered by Pokey 2 · 0⤊ 1⤋
Yes. If it's under the minium wage now
2007-07-12 02:46:38 · answer #4 · answered by Anonymous · 0⤊ 1⤋