HOURLY WAGE INDEX

Let’s talk wages in Colorado Springs

$13.65

What is the minimum wage in Colorado Springs?

The current minimum wage in Colorado Springs is $13.65 per hour. This is higher than the federal minimum wage of $7.25 per hour, and it is also higher than the average minimum wage of $10.90 per hour in the United States. The minimum wage in Colorado Springs has increased steadily in recent years. In 2017, the minimum wage was $9.30 per hour. It increased to $10.20 per hour in 2018, and then to $11.10 per hour in 2019.

The minimum wage increased to $12.56 per hour in 2022, and then to $13.65 per hour in 2023. The minimum wage in Colorado Springs is indexed to inflation, so it will continue to increase in the future. The Colorado Department of Labor and Employment estimates that the minimum wage will reach $15.00 per hour by 2026.

$17.29

What is the living wage in Colorado Springs?

A livable wage is the hourly wage that a worker needs to earn in order to afford basic necessities, such as housing, food, transportation, and healthcare. The livable wage in Colorado Springs is estimated to be $17.29 per hour for a single adult, and $30.64 per hour for a family of four.

The livable wage in Colorado Springs is higher than the minimum wage because it takes into account the cost of living in the city. Colorado Springs is a relatively expensive city, so workers need to earn more money in order to afford basic necessities.

Frequently asked questions

What is the difference between gross wages and net wages?

It's important to remember that the Hourly Wage Index data above reflects gross wages, or the amount of money an employee earns before accounting for payroll deductions like taxes, benefits, or wage garnishments. Due to variability in tax rates across locations, slightly lower gross wages in a certain location might result in higher take home pay, or vice versa.

What is a good hourly wage?

This question is a difficult one to answer, as a "good hourly wage" is highly subjective according to experience, work responsibilities, cost of living, and other factors. We recommend using Hourly Wage Index data as a starting point. Once you have established a baseline for certain positions, do further research into similar businesses in your area. Lastly, consider surveying your employees. They're the best resource to help you know what is a good hourly wage, what competitive pay looks like in your location, and how competitive wages change in your industry over time.

Offering competitive pay is one of my top priorities—what other resources do you have that might help?

We know that getting applicants to pay attention to your business can be extremely challenging, and that offering competitive pay is a huge part of that. Wages aren’t everything, however! Applicant experience is another important factor that can help set you apart from your competition. A few examples include:

Short, easy to understand job descriptions
Mobile-friendliness
Quick communication
Streamlined interview stages

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A Workstream hiring specialist can help you identify high impact ways to improve your applicant experience, and even help you determine what is a good hourly wage for your location and business.