Target Corporation is permanently raising its starting wage to $15 per hour, effective July 5. This is ahead of schedule; the Minneapolis-based company has been gradually increasing its rate since 2017, when it stated plans to reach that wage by the end of 2020.
In addition, the retail giant will distribute a one-time $200 recognition bonus at the end of July to eligible full-time and part-time hourly team members at both stores and distribution centers. Target in April gave bonuses of between $250 and $1,500 to 20,000 hourly store team leads who oversee individual departments in Target stores.
The new minimum wage is more than 25% higher than the US industry average, according Target.
“The most important investments we make are in our team. I have tremendous gratitude for the way our team members show up with such purpose and pride for our guests, communities and one another,” said Target’s Chief Human Resources Officer Melissa Kremer. “These investments help ensure that team members can build meaningful careers, take care of themselves and their families, and contribute to building our communities through their work inside and outside of Target.”