McDonald’s joins Wal-Mart, Gap, other cos. in raising wages

McDonald’s said Wednesday it is raising pay for workers at restaurants that the company owns. Here’s a look at all the big companies that recently have announced they are boosting hourly wages for their employees:

In February Wal-Mart Stores Inc., the largest private employer in the U.S., said it will boost its minimum pay to $9 an hour in April and to $10 by February 2016. That means 500,000 employees will get a raise.

TJX Cos., the parent of discount store operator TJ Maxx and Marshall’s, said in February that it will pay all of its U.S. workers at least $9 an hour starting in June.

Health insurer Aetna Inc. said in January that it will pay a minimum of $16 an hour starting in April. That’s more than twice the federal minimum wage of $7.25, and Aetna said about 5,700 employees will get a raise.

Home furnishings retailer Ikea said in June that it would increase its raise wages 17 percent on average, bringing its hourly wage to $10.76 on average. Ikea said it will peg its salaries to the cost of living in different locations, and its move means higher wages for about 5,500 hourly store workers.

Retailer Gap Inc. said in February 2014 that it will set the minimum wage for workers at $9 an hour this year and $10 an hour in 2015.

McDonald’s Corp. said starting wages will be $1 above the local minimum wage, and its average hourly wage at those stores will be more than $10 an hour, up from $9 an hour. The move applies to about 90,000 workers at about 1,400 restaurants owned by McDonald’s. It has about 14,300 U.S. locations, the vast majority of which are franchised.