June 17, 2014
How does the changing minimum wage affect your compensation strategy?
<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_hotwater.png" alt="header_HotWater"><p><a href="https://plus.google.com/111113068527266071578? rel=author">Mykkah Herner, </a>M.A., CCP, PayScale </p><p>There has been a lot of talk about increasing the minimum wage, at the federal, state, and city levels. In Seattle, headquarters of PayScale, we just <a href="http://www.nytimes.com/2014/06/03/us/seattle-approves-15-minimum-wage-setting-a-new-standard-for-big-cities.html?_r=0" title=" class=" target=" rel="noopener">passed an ordinance increasing the minimum wage</a> to $15/hour within 3-7 years depending on employer size. Of course there has been debate on both sides of the law. Can small business owners afford to absorb the increase? What will happen to the people we used to pay at $15/hour? But also, how can Seattle call itself a forward-thinking city if the minimum wage is not a livable wage? I probably should have been born a Libra because I fundamentally understand both sides.</p>