Apple, known for its premium products and employee benefits, is reportedly recalibrating its annual raises for offline store employees, marking a departure from the substantial increases witnessed in the previous year. According to a report from Bloomberg, the tech giant is introducing an “average annual raise” of approximately 4 percent for the current year, reverting to pre-2022 raise levels.
Shifting from Last Year’s High Raises
In 2022, Apple’s retail employees enjoyed more generous annual raises, with increments ranging from 8 percent to 10 percent. This was attributed to factors such as labor shortages and a growing unionization movement, with only two Apple Stores successfully unionizing during that period. However, this year, the range of raises spans from 2 percent to a maximum of 5 percent, signifying a significant shift in the company’s compensation strategy.
Reflecting Broader Economic Trends
Apple’s decision to recalibrate employee raises aligns with broader economic trends in the United States. The nation has experienced sluggish wage growth in the current year, coupled with a deceleration in inflation rates. Consequently, Apple’s adjustment in compensation appears to mirror the overall economic climate.
Wage Details for US Store Employees
While there are no specific figures available for Indian store employees, it has been disclosed that most Apple sales personnel in the United States earn hourly wages ranging from $22 (approximately Rs 1,825) to $30 (about Rs 2,490). Employees in AppleCare roles may receive slightly higher compensation. Additionally, both categories of employees receive annual restricted stock units, with most packages topping out at around $2,000 this year. Some select workers have also been granted rare bonuses.
Impact on AppleCare Technical Support Staff
The recalibration in employee raises extends to AppleCare technical support staff, marking a return to the traditional compensation structure after the more significant raises seen in the previous year.
iPhone 15 Series Launch
In other news, the much-anticipated iPhone 15 series made its debut earlier today, drawing throngs of Apple enthusiasts to the company’s official Mumbai and Delhi stores in India. The base model, iPhone 15 with 128GB storage, is priced at Rs 79,900, while the iPhone 15 Plus with 128GB storage retails for Rs 89,900. The iPhone 15 Pro and the flagship iPhone 15 Pro Max are available for Rs 1,34,900 and Rs 1,59,900, respectively.
