Target Workers Will Get Major Bump In Pay: Here’s How Much The Retailer Is Paying Now

Target (TGT) is increasing its starting wage for employees as part of an effort to attract more workers across stores in every market it operates in.

The retailer said it is investing up to $300 million more in benefits for its workers in 2022, which will include a new starting wage range. Workers will now get paid $15 to $24 per hour, which Target said will position it as a wage leader.

Target has more than 350,000 employees at its roughly 1,900 stores, supply chain facilities and headquarters locations.

“We want all team members to be better off for working at Target, and years of investments in our culture of care, meaningful pay, expanded healthcare benefits and opportunities for growth have been essential to helping our team members build rewarding careers,” Melissa Kremer, chief human resources officer at Target, said in a statement.

Beyond the pay bump, Target employees will also see expanded healthcare benefits with a shorter enrollment period for benefits. In addition, workers will be eligible for healthcare by working a minimum average of 25 hours per week.

Other benefits added in 2022 include faster access to 401(k) plans, free virtual physical therapy, enhanced fertility benefits and acupuncture coverage for employees.

Target is the latest employer to raise worker wages in a pinched labor market.

Costco increased its worker wages to $17 per hour in October while Walmart increased the wages of 565,000 U.S. employees in September by at least $1 per hour. Amazon’s starting wage is $15 per hour, with fulfillment and transportation jobs paying $18 per hour.

Target’s previous starting wage was $15 per hour, which it announced in 2017 and began paying its workers in 2020.

As of Monday at 10:53 a.m. ET, shares of Target were trading at $199.38, up 16 cents, or 0.08%.