Hobby Lobby Minimum Wage Increase
Well, even though federal law slowly increases the minimum wage over the course of many years, corporations have to step up to provide an environment where the worker will be able to efficiently and effectively work while receiving a good wage. With the current state of a worker shortage and understaffing, companies have to step it up and cut a few billion from the earnings of management to entice more employees to join their ranks.
Hobby Lobby Stores, Inc. is one of those stores you all know and shop at. Hobby Lobby was first into existence in 1972 by its founder David Green. The company made over $5 billion in revenue in 2018, the last year the report of the company was made public. With over 43 thousand employees and 900 locations, while the chain’s HQ is located in Oklahoma, you can find a Hobby Lobby anywhere you look in the United States. With close to a thousand in terms of the number of stores, you can expect a streamlined and regulated service from the company. With its main assets sold being arts and crafts supplies, Hobby Lobby Stores, Inc. functions in 47 states.
Well, what is the minimum wage for workers who are working in Hobby Lobby? Find out this answer by reading on through the article. Is it different than other companies? If it is, is it lower or higher, and by how much? These are all questions that intrigue anyone even if they do not immediately plan to work for Hobby Lobby. Let’s find out, shall we?
Hobby Lobby Minimum Wage
The full-time hourly wage of Hobby Lobby is $18.50 at the time this article is written. However, this was not always the case. Until 2014, the hourly wage stayed at a steady rate of $15, and in 2020, this was increased to $17. The current figure we see ass $18.50 was first introduced at the beginning of 2022. However, it is good to keep in mind that this wage applies only to full-time workers, but the wage increase also affected the hourly wage of part-time workers as it reached $13 for every work working in a Hobby Lobby establishment. This is to say that an average full-time employee that works 40 hours a week will make a little more than $34,000 and part-time employees will make a little over $13,000.
Over the last decade, we’ve seen Hobby Lobby increase its minimum wage over ten times. While the minimum wage of the company increases, the average salary also increases with it. However, the fact that the full-time and part-time workers’ wage differs so much from one another drew some eyes to the companies. The part-time worker will work fewer hours, but those hours will be as full as the hours of a full-time worker, if not more. This distinction between the wages is quite apparent when companies like T-Mobile pay their employees $20 per hour without making a distinction between a full-time or a part-time worker.
Hobby Lobby Minimum Wage Compared
We can compare the Hobby Lobby minimum wage if we desire to do so but the fact is that the company is paying more than the minimum wage presented in California, which is the state with the highest minimum wage requirement which is $15 per hour.
The biggest competitor to Hobby Lobby is Target. Of course, there are other companies like Walmart that pose quite a financial threat to Hobby Lobby as well. Let us compare the minimum wages presented by these companies with the one promised by Hobby Lobby.
While Target currently pays its employees a minimum wage of $15 per hour, it has plans to increase this wage to $24 per hour in the future, which would be quite a feat. For Walmart, while it changes from state to state, at highest some stores in certain states reach is $17 per hour while it can be as low as $12 per hour and in most stores, that is the case.
Conclusion
As Hobby Lobby’s hourly wage increases to $18.50, it has become one of the best chances of earning money in terms of different stores that serve similar products. Before companies like Walmart and Target increases their minimum wage to their goal amounts, this seems like it will stay the case for some time.
Do Walmart and Target give lower wages to part-time employees?
Yes, Walmart also changes their pay for half-time employees. However, Target does not give decreased wages to part-time workers and in the few places they do, the gap is not as large as Hobby Lobby
Does Hobby Lobby pay weekly?
No, Hobby Lobby has a salary plan that pays its employees bi-weekly. So, it pays its employees every two weeks.
