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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 Raleigh, NC is $7.25 per hour. This is the same as the federal minimum wage, which has not been increased since 2009. The minimum wage in Raleigh is lower than the national average of $7.50 per hour. The minimum wage in Raleigh has not increased in recent years and has actually decreased in real terms due to inflation. The purchasing power of the minimum wage in Raleigh has declined by about 17% since 2009. A livable wage in Raleigh is estimated to be $15.17 per hour for a single adult with no children.
The minimum wage in Raleigh is expected to remain at $7.25 per hour until at least 2025, but there is a growing movement to increase it to $15 per hour. The estimated number of workers in Raleigh making minimum wage is 100,000, and they often struggle to make ends meet, sometimes having to work multiple jobs or rely on government assistance. Increasing the minimum wage to $15 per hour would help ensure that all workers can earn a living wage.
A livable wage in Raleigh is estimated to be $15.17 per hour for a single adult with no children. This means that a worker would need to earn $15.17 per hour in order to afford a modest but comfortable standard of living in Raleigh.
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: