Apple has announced it will increase the starting salary for its U.S. employees amid inflation and supply chain problems.
The new pay structure will begin at the beginning of July. Apple also told some workers that their annual reviews would be advanced by three months.
Under the new pay structure, the entry-level salary for the company’s U.S. team members will rise to $22 an hour or more based on the market, a 45% jump from 2018 levels, according to Apple.
“This year as part of our annual performance review process, we’re increasing our overall compensation budget,” a company spokesperson said.
Apple’s decision to increase pay follows a similar move by competitor Microsoft. For Microsoft, the decision to increase pay will help the company retain talent in a highly competitive sector.
Apple’s return-to-office policy has been criticized by the company’s workers. The company’s plan was among the reasons cited by Apple’s recently resigned machine learning director Ian Goodfellow.
The sources for this piece include an article in Reuters.