Apple is currently compensating its brick-and-mortar store employees in the range of Rs 1,825 to Rs 2,490 per hour, according to reports. However, the company appears to have scaled back its annual pay raises for its retail staff, indicating a departure from the larger increases seen in the previous year. Here are the specifics.
A Bloomberg report reveals that Apple is implementing an "average annual raise" of around 4 per cent for the current year, effectively returning to pre-2022 raise levels. The pay increases for 2023 reportedly range from 2 per cent to a maximum of 5 per cent, in contrast to the more substantial raises of the previous year, which ranged from 8 per cent to 10 per cent. The surge in raises in 2022 was attributed to labour shortages and a growing unionization movement, with only two Apple Stores successfully unionizing so far.
This decision aligns with broader economic trends in the United States, where wage growth has been sluggish this year, accompanied by a deceleration in inflation rates. Consequently, Apple's adjustment in employee raises mirrors the overall economic climate.
There is currently no information available for Indian store employees. However, the report cited indicates that most Apple sales personnel in the US are reportedly earning hourly wages ranging from $22 (approximately Rs 1,825) to $30 (about Rs 2,490), with slightly higher compensation for employees in AppleCare roles. Additionally, Apple issues restricted stock units annually to both categories of employees, with most packages topping out at approximately $2,000 this year. Furthermore, the tech giant has also granted select workers rare bonuses.
This recalibration in employee raises also extends to AppleCare technical support staff, marking a return to the traditional compensation structure after the larger raises of the previous year.
In addition, the new iPhone 15 series became available for purchase today for the first time. Many Apple enthusiasts in India flocked to the tech company's official stores in Mumbai and Delhi. For those who may not be aware, the iPhone 15 with 128GB of storage is priced at Rs 79,900, while the iPhone 15 Plus with 128GB will cost you Rs 89,900. The iPhone 15 Pro will be sold for Rs 1,34,900, and the most premium iPhone from Apple, the iPhone 15 Pro Max, is priced at Rs 1,59,900.
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