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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 minimum wage in Illinois is $13.00 per hour for employees 18 years of age and older and the Illinois minimum wage for tipped employees is $7.80 per hour. Workers under 18 who work fewer than 650 hours a year will earn a minimum wage of $10.50 per hour beginning January 1.
The Illinois minimum wage is set to increase to $14.00 per hour on January 1, 2024, $15.00 per hour on January 1, 2025, and $15.00 per hour on January 1, 2026.
There are some exceptions to the minimum wage law. For example, employers may pay sub-minimum wages to learners and certain workers with physical and mental limitations. Overtime must be paid after 40 hours of work per week at time and one-half the regular rate.
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: