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CVS will raise employees’ minimum wage to $15

A customer walked into a CVS Pharmacy store in Woburn on Tuesday.Charles Krupa/Associated Press

CVS employees will have a $15 hourly minimum wage starting July 2022, the company announced Wednesday.

The company, based in Woonsocket, R.I., said incremental increases to the company’s hourly rates will start this month.

“These wage increases will have a meaningful impact on our colleagues and their families while helping the communities we serve prosper,” CVS Health chief executive Karen S. Lynch said in a statement. “Today’s announcement is the latest in a series of investments in our people, including bonuses and benefit enhancements throughout the pandemic.”

The minimum wage in Massachusetts is $13.50 per hour, and will reach $15 in 2023. In Rhode Island, it’s $11.50 per hour, and the minimum wage will increase annually until it reaches $15 in 2025.


Roughly 65 percent of CVS employees already earn more than $15 an hour, according to a company news release.

The company also recently removed the requirement that employees must have a high school diploma or a GED for entry-level jobs. It will also eliminate the GPA requirement for recruitment out of universities, per the statement.