2024 Wage Increase!
Jun 21, 2024Last week the Commission announced changes to the National Minimum Wage and the Award Minimum Wage for 2024. Here's what you need to know!
What has changed?
From 1 July 2024, the National Minimum Wage and the Award Minimum Wage will increase by 3.75%.
For employees who are not covered by an award or registered agreement, the minimum hourly rate will rise to $24.10 per hour and the weekly minimum rate to $915.90.
When will I see a difference in my pay check?
Both the National and Award Minimum wage increase will apply from the first full pay period on or after 1 July 2024. Essentially, if your weekly pay period starts on Thursday, you will see an increase to your rate from Thursday 4th July 2024.
What are the next steps?
Employees
- If you are covered by an Award, check the relevant Award Pay Scale to familiarise yourself with the changes to your rate. These should be updated soon! A list of the Awards can be found here.
- If you are not covered by an Award, check your payslip from 1 July to ensure your rate is reflective of the changes. If not, touch base with your Employer!
- Please note, if you are on an agreement and paid more than the minimum rate you may not see the full effect of the 3.75% increase.
Employers
- It's time to start assessing which employees are paid an Award rate and who is paid a flat rate/ inclusive salary.
- For employees paid an Award rate, ensure this is increased by 3.75% come 1 July.
- For employees on a flat rate/ inclusive salary, consider whether a wage assessment needs to be conducted to ensure compliance with the changes.
Need a hand conducting a wage assessment or wrapping your head around these changes? Please feel free to contact the Employii team via [email protected] or give us a call on 0401 510 559.
We will be posting further updates to the Pay Guides and other HR changes via our social media platforms. Connect with us by clicking on the below social media platforms, for free downloadable resources and regular HR updates!
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Author: Jess Roughsedge (HR Officer)
