Apple Retail Employees Getting Smaller Raises of Approximately 4% in 2023

[MacRumors]

Apple's retail employees are receiving raises between two and five percent this year, which is a smaller pay increase than Apple provided during the pandemic, reports Bloomberg. Annual raises are at about four percent on average, with the increases applying to retail employees and AppleCare technical support employees.

Raises are provided alongside employee reviews, which are done in the fall. Last year, Apple was offering bigger raises of eight to 10 percent to combat labor shortages and employee unionization efforts, but as Bloomberg notes, unionization campaigns have not gained traction and wage growth in the United States is down.

Most of Apple's retail employees in the United States earn now $22 to $30 per hour, and are given restricted stock units valued at up to $2,000 annually.

Article Link: Apple Retail Employees Getting Smaller Raises of Approximately 4% in 2023

 

[ACHD]

lol some AppleCare senior advisors /T2 who are internal corp make less than 18 an hour.

Apple has the budgeting to provide higher base wages to.

 

[dannyyankou]

Well, that is consistent with the rate of inflation. But Apple can afford more I think.

 

[CapitalIdea]

Well, that is consistent with the rate of inflation. But Apple can afford more I think.

I think you make too much money. Therefore I want some. Give it to me.

 

[NT1440]

Apple should do better, but this is a systemic problem across the board. Layoffs in the name of “economic headwinds” (with record profits).

Corporations are trying to remind workers that us peons are under their thumb after we got a little high and mighty for their tastes during COVID.

 

[tcphoto1]

Tim is protecting Apple's Billions and his own hundreds of Million in salary, bonuses and stock options...

 

[erikkfi]

Layoffs in the name of “economic headwinds” (with record profits).

Those stocks aren't going to buy themselves back.

 

[munpip214]

4% more than I get 😭

 

[NT1440]

Those stocks aren't going to buy themselves back.

Exactly. It’s all a game.

 

[CapitalIdea]

Tim is protecting Apple's Billions and his own hundreds of Million in salary, bonuses and stock options...

The CEO of a for-profit company prioritizing the financial health of the company itself as required by law for someone in his position? No way!

Now, explain to me, convincingly, why someone at the top end of the scale in the article deserves to make $62,400 annually for tapping on an iPad to ask someone in the back of the store to bring out the product I am picking up? And please justify it by also explaining why most of the time I end up knowing more about the product than they do. I worked retail as well, so any claims of elitism will be useless. I just want to know why people like yourself want to pretend these workers are out on street corners selling matchbooks to make ends meet.

 

[Chuckeee]

Not unexpected for non-Union, non-executive employees.

Might not be fair but it isn’t a surprise

 

[SigurTom]

How does that compare to the unionized store(s)?

 

[Mlrollin91]

Tim is protecting Apple's Billions and his own hundreds of Million in salary, bonuses and stock options...

Tim's cash compensation is $15,000,000 ($3 base + 12 bonus). The other 85 million is stock options. Compared to other CEOs, its quite minimal. Iger is making $27,000,000 + bonus. So while Tim is making a lot, "hundreds of million" is just not true.

 

[siddavis]

How does that compare to the unionized store(s)?

Union store is probably closed due to strike.

 

[seek3r]

The CEO of a for-profit company prioritizing the financial health of the company itself as required by law for someone in his position? No way!

Now, explain to me, convincingly, why someone at the top end of the scale in the article deserves to make $62,400 annually for tapping on an iPad to ask someone in the back of the store to bring out the product I am picking up? And please justify it by also explaining why most of the time I end up knowing more about the product than they do. I worked retail as well, so any claims of elitism will be useless. I just want to know why people like yourself want to pretend these workers are out on street corners selling matchbooks to make ends meet.

Because they provide significant value for a massively valuable company, because people deserve living wages, and because cost of living makes that $60k not actually all that much money in at least most urban areas in the us.

 

[forza1976]

Tim's cash compensation is $15,000,000 ($3 base + 12 bonus). The other 85 million is stock options. Compared to other CEOs, its quite minimal. Iger is making $27,000,000 + bonus. So while Tim is making a lot, "hundreds of million" is just not true.

Looks like near 100M to me. When I calculate my yearly earnings (as well as how the IRS calculates it), stock and base all count. So he is making near 9 digits...

Apple CEO Tim Cook to Take More Than 40% Pay Cut

Apple CEO Tim Cook will take a more than 40% pay cut this year from a year earlier as the company adjusts how it calculates his compensation

www.usnews.com

 

[contacos]

the world is cruel sometimes. I got a 10% raise (without asking) and 170% of my bonus for basically being on MR all day 😅

 

[sw1tcher]

The CEO of a for-profit company prioritizing the financial health of the company itself as required by law for someone in his position? No way!

What is this law that requires for-profit companies to prioritize their financial health? I've never heard of such a law.

 

[Armada2]

Curious to know what the employees think they deserve when there's 30,000+ retail employees and do they expect part timers should get the same as full timers and should new employees get the same as employees who have been there longer? 😂😂

 

[seek3r]

Curious to know what the employees think they deserve when there's 30,000+ retail employees and do they expect part timers should get the same as full timers and should new employees get the same as employees who have been there longer? 😂😂

A raise that isnt a functional decrease because of inflation would probably be a good start

 

[dannyyankou]

I think you make too much money. Therefore I want some. Give it to me.

You’re talking about Apple employees that had a part in Apple’s success right? I don’t think it’s too much for them to ask for a little more.

 

[Kylo83]

Retail is retail that’s a good hourly rate compared to the uk but most jobs don’t up the rate

 

[NT1440]

What is this law that requires for-profit companies to prioritize their financial health? I've never heard of such a law.

The term is fiduciary duty. In the 80’s under Reagan the Supreme Court interpreted this to be the primary function of issuing a Corporate Charter.

It was stealthy, nobody noticed, but that was when things officially changed in America.

Coincidently, until the Reagan administration Stock Buybacks were actually illegal as they were considered (as it factually is) stock price manipulation.

 

[AppleFan735]

Looks like this year they are passing the retail employee wage savings to customers directly by not increasing the iPhone prices. Big win for us!

 

[sw1tcher]

The term is fiduciary duty. In the 80’s under Reagan the Supreme Court interpreted this to be the primary function of issuing a Corporate Charter.

It was stealthy, nobody noticed, but that was when things officially changed in America.

Coincidently, until the Reagan administration Stick Buybacks were actually illegal as they were considered (as it factually is) stock price manipulation.

Fiduciary duty is neither a law nor is it required that companies maximize profits for shareholders.

Corporations Don't Have to Maximize Profits - NYTimes.com

www.nytimes.com