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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.
The minimum wage in Maryland is $15.00 per hour for businesses with 15 or more employees, and $12.80 per hour for businesses with fewer than 15 employees. This is set to increase to $14.00 per hour for all businesses on January 1, 2024. The Maryland minimum wage for tipped employees is $3.63 per hour, though this amount plus tips must at least equal Maryland's Minimum Wage Rate.
There are some exceptions to the minimum wage in Maryland. These include:
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.
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.
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: