Westgate Increases Minimum Pay up to $10 per Hour
Wednesday, October 15, 2014
Tuesday Morning, Westgate Resorts announced that the company will be increasing the company’s minimum pay to $10 per hour.
The pay increase is thanks to the company’s success in 2014. In a news release, CEO of Westgate Resorts, David Siegel, announced the decision and defined the terms of this new financial development.
Siegel shared, “We’re experiencing the best year in our history and I wanted to do something to show my gratitude for the employees who make that possible.”
Beginning January 1st, 2015, all Westgate employees that are currently making under $10 an hour will be bumped up to the new minimum. All new employees starting after January 1st will also receive at least $10 per hour.
An employee working full time at $10 an hour will make an average salary of $21,000. Compared to the average minimum wage of $7.25 an hour in the U.S., that’s about $4,000 more per year in wages.
It should be noted that a few employees will be exempt from the pay increase. Those employees that receive tips or commission as part of their pay will not see an increase. This group includes sales and restaurant staff. Employees that are protected by a collective bargaining agreement should also not expect an increase in pay.
For those exempt employees and those making over $10 per hour, Siegel shared that the company will be awarding merit-based raises to eligible employees.
