For a while now, many people have been talking about a Target minimum wage increase as if it’s expected on a regular basis, and rightly so!

In 2022, now as we head into 2023, Target continues to make a positive impact in the retail business by consistently offering its workers wage increases in keeping with the state of the economy. The company remains committed to providing its workers with the necessary skills and development to continue their upward trajectory.

In addition to consistently increasing wages, Target has also increased sharing of profits with employees as a bonus on top of their salary, wages, and benefits.

Target Minimum Wage Increase

The minimum wage in the United States has remained unchanged at $7.25 per hour since 2009. A study by the University of Massachusetts, Amherst, found that if the federal minimum wage had been raised to $10.10 an hour by 2014, it would have lifted about 1 million people out of poverty and increased wages for 16.5 million workers overall.

The current federal minimum wage is below the living wage in most parts of the country. There is significant evidence that increasing it would not only help low-income families make ends meet. It would also stimulate our economy as low-wage workers spend their paychecks on basic needs such as food and clothing.

Target has been steadily increasing its minimum pay. It now sits at a respectable $15 an hour for the most part. With that said, in some stores, where there is fierce competition for valuable employees among retailers. In these stores, Target is increasing its minimum pay to $24 an hour.

Target Raises

Target’s overall salary and wage growth are as follows: In 2015, Target’s overall pay increase was 2.5%; in 2016, the company reported a 4% increase; and in 2017, the company reported a 3.2% increase.

Since then, every other year (2018-2022) has shown consistent growth in wages and currently, the minimum pay at Target is $15 an hour.

Target does not have pay bands to inform or guide employees on what they can expect for each year after their initial hire date. However, they are consistent in compensating their employees.

Target Raises Wages Every Year

Target has been raising wages overall, every year.

This company is one of the retail giants in the United States. They were the first company to raise the minimum wage to $11 an hour, which was a big deal at the time because it was more than double what Walmart and Costco were paying their employees.

As an example, in 2018, Target raised its hourly wage from $11 to $12. In 2019, Target raised its hourly wage from $12 to $13 an hour for all associates who work more than 20 hours a week.

How often does Target give raises?

Target has a history of giving its employees raises, but it doesn’t happen as regularly as one might think. While Target is known for its generous benefits and competitive salaries, the company does not give raises all that frequently.

Wage studies have revealed that Target employees are paid more than their peers in the retail and distribution industry. However, the company does not give raises all that often, unlike some of its competitors such as Costco, Home Depot, or Amazon.

This is because there are a number of factors that go into determining how much an employee will be paid, including their performance and tenure with the company. When evaluating whether to give an employee a raise, it is important to consider whether the employee’s salary would be competitive in their respective field.

Target will typically give raises every six months to a year. They come in the form of a 1% to 3% raise.

Will Target raise wages again in 2023?

Target has been a leader in the retail industry, with its commitment to fair wages. In 2020, it raised wages to $15 per hour and promised to raise them again by 2024.

Target will most likely raise wages again by 2024 because it is committed to providing fair wages. It has already done so twice before, once in 2020 and once in 2021. And Target will not want to be outdone by other retailers, who are now raising their own wages.

Target’s CEO Brian Cornell says that they will continue to raise wages every year in order to attract and retain talent. He also says that “we want to be able to provide a wage that can support people, especially with what’s going on in the economy.”

The company has not announced any plans for a wage increase in 2023. However, they have stated that they will make an announcement later this year about raising wages again in 2024.

For now, here’s an example of the 2023 Target minimum wage in:

Florida—$15/hr.
California—$15.50/hr.
Texas—$15/hr.
Illinois—$15/hr.
Arizona—$15/hr.

In a few markets where there is tough competition from other retail companies, Target will be paying its workers up to $24 an hour to start!

What Does the Future Look Like?

Target workers, and all retail employees for that matter, are those who are most vulnerable to the impact of automation. They are also the ones who need to be prepared for a changing economy and job market.

It is hard to predict the future of target workers. It is easy to imagine a future where artificial intelligence (AI) and robotics are in control and humans are not needed or even wanted. But we should not be afraid of this future because it will come with many new opportunities for people who have the skill set and are willing to learn.

The future of Target workers is hard to predict, but it will bring many new opportunities for those who have skill sets that can be applied in a world with AI and robotics.

Tips to Get Promoted and Earn Higher Wages

There are many ways to get promoted in Target stores. You can be a team player and help your co-workers with their tasks, you can take on extra responsibility, or you can be creative and find a way to improve the store.

For example, the first step for some employees may be to identify what requires improvement in the store. It could be anything from the condition of the bathrooms or the checkout line wait time. You need to come up with a plan for how you will address this issue.

The next step is to share your idea with your manager or supervisor and let them know that you want to take on this responsibility. This will show them that you are ready for more responsibilities, and they may give them to you!

Many think that the best way to get promoted at Target is through extremely hard work and dedication. This is a noble approach, but this is not always the case! Employees with a few insider tips have an advantage over others who do not have these tips.

The following are some of the best tips to get promoted at Target:

Be observant of your surroundings and always be on the lookout for opportunities
Be proactive in your approach, don’t wait for something to happen
Give back by volunteering for other tasks when you can
Offer help to those in need

Keep an eye out for the next Target minimum wage increase and if it looks appealing, take advantage of trying to join forces with this awesome retailer!

Target Minimum Wage Increase Is Steady