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HOURLY WAGE INDEX

Let’s talk wages in Miami

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$11

What is the minimum wage in Miami?

The minimum wage in Miami is currently $11.00 per hour. This is higher than the federal minimum wage of $7.25 per hour, but it is lower than the living wage in Miami, which is estimated to be $14.43 per hour for a single adult with no children.

The minimum wage in Miami has increased steadily in recent years. In 2019, the minimum wage was $8.56 per hour. It increased to $10.00 per hour in 2021, and then to $11.00 per hour in 2022.

The increase in the minimum wage in Miami has been driven by a number of factors, including the rising cost of living in the city. Miami is a major tourist destination, and the high cost of living has made it difficult for low-wage workers to afford to live in the city.

The increase in the minimum wage has been beneficial for some low-wage workers in Miami. However, it has also led to some businesses raising prices and cutting jobs.

The number of workers in Miami making minimum wage is estimated to be around 100,000. This number includes both full-time and part-time workers.

The majority of workers in Miami making minimum wage are employed in the service industry. This includes jobs such as food service, retail, and hospitality.

The lowest paying jobs in Miami are typically found in the service industry. These jobs typically pay minimum wage or

$14.43

What is the living wage in Miami?

The living wage in Miami is estimated to be $14.43 per hour for a single adult with no children. This is higher than the minimum wage in Miami, which is currently $11.00 per hour. The increase in the minimum wage in Miami has been driven by factors such as the rising cost of living in the city.

While the increase in the minimum wage has been beneficial for some low-wage workers, it has also led to businesses raising prices and cutting jobs. The majority of workers in Miami fall into the lower income class, with an annual salary of less than $35,000. The number of workers in Miami making minimum wage is estimated to be around 100,000, with the majority employed in the service industry. Some of the lowest paying jobs in Miami include fast food worker, retail sales associate, and dishwasher, while some of the highest paying jobs include financial analyst, software engineer, and doctor.

Wages aren’t everything!

While pay is one of the main factors that hourly employees consider when choosing to join (or stay at) a company, it’s not the end all be all. Research shows that advancement opportunities, supportive management, and schedule flexibility are all incredibly important as well.

Want to learn more about this trend? We dive deep into the data behind which perks and benefits matter most to hourly workers. Check out our full conversation with expert Sara Wasserteil of Cara Collective.

Frequently asked questions

What is the difference between gross wages and net wages?

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.

What is a good hourly wage?

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.

Offering competitive pay is one of my top priorities—what other resources do you have that might help?

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:

Short, easy to understand job descriptions
Mobile-friendliness
Quick communication
Streamlined interview stages

Resources

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We're here to help!

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.