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A Workstream hiring specialist can help you identify high impact ways to improve your applicant experience, and even help you determine what is a good hourly wage for your location and business.
The current minimum wage in Aurora, Colorado is $12.32 per hour. This is higher than the federal minimum wage of $7.25 per hour, but lower than the state minimum wage of $13.65 per hour. The minimum wage in Aurora has increased in recent years, from $10.20 per hour in 2019 to $12.32 per hour in 2021. The city has a goal of reaching a $15 per hour minimum wage by 2025. However, a livable wage in Aurora is estimated to be $20.01 per hour for one adult with no children, taking into account the cost of housing, food, transportation, healthcare, and other essential expenses.
It is estimated that there are approximately 25,000 workers in Aurora who make minimum wage, including both full-time and part-time workers. The lowest paying jobs in Aurora typically pay around $10 per hour or less, while the highest paying jobs in Aurora typically pay over $100,000 per year. The minimum wage in Aurora has increased by an average of $1.10 per year over the past 5 years, and it is expected to continue to increase in the future.
It's important to remember that the Hourly Wage Index data above reflects gross wages, or the amount of money an employee earns before accounting for payroll deductions like taxes, benefits, or wage garnishments. Due to variability in tax rates across locations, slightly lower gross wages in a certain location might result in higher take home pay, or vice versa.
This question is a difficult one to answer, as a "good hourly wage" is highly subjective according to experience, work responsibilities, cost of living, and other factors. We recommend using Hourly Wage Index data as a starting point. Once you have established a baseline for certain positions, do further research into similar businesses in your area.
Lastly, consider surveying your employees. They're the best resource to help you know what is a good hourly wage, what competitive pay looks like in your location, and how competitive wages change in your industry over time.
We know that getting applicants to pay attention to your business can be extremely challenging, and that offering competitive pay is a huge part of that. Wages aren’t everything, however! Applicant experience is another important factor that can help set you apart from your competition. A few examples include: