Costco employees are going to see a bigger paycheck hit their bank accounts starting in March.
The warehouse chain’s latest employee agreements at its United States and Canada locations began this week with a new minimum wage at $20 and an average wage at $31.90, according to CBS.
The increases don’t stop there. Three-year contracts include $1 hourly rate increases in 2026 and 2027.
Meanwhile, junior clerks and assistants will get 50-cent hourly rate raises. They will see their hourly wage bump up to $21 next year and then, $22 the year after.
Costco CEO Ron Vachris told investors the employee contract “reflects our continued commitment to provide industry-leading pay and benefits for our employees,” according to Fortune.
The popular retailer also introduced improved employee vacation benefits beginning this year.
New hires now receive more vacation days in their first year while employees who have been part of the company for 30 years will get an additional week of vacation, increasing their time off to six weeks.
You can find more information about Costco employee salaries and benefits here.
