NY employers: The New York State Fiscal Year 2024 budget signed by Governor Hochul contains minimum wage increases for non-exempt employees throughout the state in 2024 and beyond. Here are the highlights:

  • Effective January 1, 2024: Minimum wage for NYC, Long Island, and Westchester is $16.00 per hour and $15.00 for the remainder of the state.
  • Effective January 1, 2025: Minimum wage for NYC, Long Island, and Westchester is $16.50 per hour and $15.50 for the remainder of the state.
  • Effective January 1, 2026: Minimum wage for NYC, Long Island, and Westchester is $17.00 per hour and $16.00 for the remainder of the state.

In 2027 and each year thereafter, the minimum wage will increase based on the Consumer Price Index for Urban Wage Earners and Clerical Workers for the Northeast Region. However, if the Consumer Price Index is negative for the previous year or the New York State unemployment rate increases by .5% or greater, there will not be an annual increase.

The legislation does NOT impact exempt employee salary thresholds, which remain $58,500 per year ($1,125 per week) for NYC, Long Island, and Westchester employees and $51,480 per year ($990 per week) for employees in the remainder of the state.

See the Governor’s press release for more information: Governor Hochul Announces Historic Agreement to Increase New York’s Minimum Wage and Index to Inflation as Part of FY 2024 Budget | Governor Kathy Hochul | New York State