2024 Minimum Wage New York. Employers should adjust their minimum exempt salary to $58,458.40 annually ($1,124.20 weekly) to reflect the increase that took effect january 1, 2024 in areas. Those increases will bring the minimum wage to $17 in the new york city area and $16 an hour in upstate new york, up about 12.7% from the current level in the.
As part of the fy 2024 budget, governor hochul secured an historic agreement to increase new york’s minimum wage through 2026 and index it to inflation. Starting january 1, 2024, new york’s minimum wage will increase to $16 per hour in new york city, westchester and long island, and $15 per hour for the rest.