Apple is planning to provide its retail employees with smaller salary increases this year, signaling a slowdown from the unusually substantial pay raises seen during the COVID-19 pandemic, according to Bloomberg‘s Mark Gurman.
According to insider sources, average annual salary raises for Apple retail employees stood at approximately 4%, with a range of about 2% to 5%. AppleCare technical support employees will also see similar raises to the quoted figures. Gurman adds that these figures represent a substantial drop in pay raises compared to last year, which stood at around 8% to 10%, and a slight boost to minimum pay to $22 an hour up from $20.
Apple was forced to raise its retail staff salaries more aggressively last year on the back of US-nationwide labor shortages and increasing unionization efforts across several retail locations. Suppressed wage growth across the US as a whole and the fact that only two Apple Stores among the 271 nationwide locations have gone forward with their unionization gave Apple the opportunity to offer lower salary raises, which now stands at the same levels last seen in 2020.
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In the US, the majority of Apple retail staff currently receive hourly wages ranging from $22 to $30, with slightly higher earnings for AppleCare roles. Apple also grants restricted stock units annually to employees in both these categories, adds Gurman.
These packages reached a maximum value of approximately $2,000 this year, with Apple also granting “rare bonuses” for select retail workers.
