Working at Starbucks is about to develop into a complete lot sweeter — and it has nothing to do with the sugary drinks.
The coffee giant announced on Monday that starting January 1, eligible employees will receive a 3% to five% hourly wage increase depending on what number of years of service they’ve given to the corporate.
Retail hourly “partners” (Starbucks’ internal word for its employees) within the U.S. will see “not less than a 3% increase” in wages. Employees who’ve been with the corporate for 2-5 years will see a 4% increase and people who have been with Starbucks for five or more years are set to see a 5% increase.
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Barista ranges are between $15 and $24 per hour, due to wage increases that the chain implemented in 2022. On average, hourly retail employees for the corporate receive a wage of $17.50 per hour.
Starbucks said in a press release that the increases allow the company to proceed “serving the very best advantages across the industry for hourly retail work.”
Newly hired employees can even see faster PTO accrual starting January 1, with latest employees with the ability to start accruing break day just 90 days after initially being hired.
“Investing in our partners is what drives our success. It’s what makes us all partners,” said Sara Trilling, executive vp and president of Starbucks North America, in an organization release. “And a very important way we do that is by investing in our partners’ journey, to bridge to a greater future at Starbucks and beyond.”
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There may be a catch, nevertheless.
Employees who’ve unionized won’t be entitled to all the latest advantages. An estimated 366 Starbucks stores have voted to unionize within the U.S. since 2021.
Starbucks is coming off of a strong Q4 2023, with net sales increasing 11.4% to $9.37 billion.
The coffee giant was up slightly below 14.5% 12 months over 12 months as of Tuesday afternoon.