Verizon Increases Pay For Workers: Here’s How Much Their Getting Paid Now

Verizon (VZ) is competing for workers and has raised the minimum wage of its current employees and new hires.

Now its customer service, retail, and inside sales employees will make $20 per hour in addition to premium pay for assistant managers who work on holidays, Sundays, and those who are bilingual.

New employees who start with the company in many U.S. markets will also receive a sign-on bonus in retail specialist and assistant manager positions, Verizon said.

“I’m confident these changes will help us attract and retain the very best talent, and allow us to continue to improve our customer experience,” Krista Bourne, chief operating officer of Verizon’s Consumer Group, said in a statement.

Verizon is currently hiring and is looking for those who are motivated by the “opportunity to continuously grow, learn and realize new ambitions,” in addition to a number of other skills.

The wireless company was ranked No. 18 on LinkedIn’s 2022 Top Place To Work. It offers its employees benefits such as tuition assistance, training, wellness resources, paid parental leave, and backup child and eldercare.

Verizon is the latest in a string of companies to raise the minimum wage of its employees. Wireless rival T-Mobile raised its employees’ minimum wage to $20 per hour in December 2021.

Retailer Target recently announced that it would bump the starting wage of its workers from $15 to $24 per hour, positioning itself as a wage leader in the retail space.

Costco increased the wages of its employees to $17 per hour in October, and Walmart raised the wages of 565,000 U.S. workers in September by at least $1. Amazon also increased starting wages to $15 per hour, with fulfillment and transportation roles paying $18 per hour.

The wage increases come amid a tightening labor market, where workers are becoming increasingly difficult for employers to find and hire.

As of Tuesday premarket hours, shares of Verizon were trading at $53.50, up 11 cents, or 0.21%.