Alaska’s Minimum Wage Increases on January 1, 2024
Alaska's minimum wage will increase to $11.73 per hour, effective January 1, 2024, from the current minimum wage of $10.85 per hour. This represents an increase of $0.88, or approximately 8.1%. Minimum salaries for certain exempt employees will also rise on January 1, 2024. These employees are required to maintain a salary equivalent to two times the minimum wage for the first 40 hours they work. Consequently, the minimum salary for such workers will increase to $938.40 per week, or $48,796.80 per year, from the current minimum of $868.00 per week, or $45,136.00 per year.
As 2024 approaches, Alaska employers should be prepared to address this update as of January 1, 2024.
Print and share
Authors
Notice
Before proceeding, please note: If you are not a current client of Perkins Coie, please do not include any information in this e-mail that you or someone else considers to be of a confidential or secret nature. Perkins Coie has no duty to keep confidential any of the information you provide. Neither the transmission nor receipt of your information is considered a request for legal advice, securing or retaining a lawyer. An attorney-client relationship with Perkins Coie or any lawyer at Perkins Coie is not established until and unless Perkins Coie agrees to such a relationship as memorialized in a separate writing.
Explore more in
Wage & Hour Developments
The regulatory landscape, appetite for administrative agency enforcement, and judicial interpretations related to wage-and-hour issues are rapidly evolving. Our blog is a one-stop resource for federal- and state-level updates and analysis on wage-and-hour-related developments affecting employers.