From 1 July 2024, the National Minimum Wage will increase by 3.75%.  

The new National Minimum Wage will be $915.90 per week or $24.10 per hour.  

The new National Minimum Wage will apply from the first full pay period on or after 1 July 2024. This means if your weekly pay period starts on Wednesday, the new rates will apply from Wednesday 3 July 2024.  

The National Minimum Wage applies to employees who aren’t covered by an award or registered agreement.  

Most employees are covered by an award. Awards are legal documents that outline minimum pay rates and conditions of employment in your industry or occupation. If you’re not sure which award applies to you, you can search Fair Work here Find My Award  

For any businesses with employees paid at the minimum wage level or at award rates, hourly rates will need to be checked and adjusted for the first pay run after 1st July 2024.  

For businesses paying slightly above the award rate, consideration needs to be given to whether the rate being paid is still above the new minimum wage rate. These need to be reviewed and adjusted if needed.  

For a full read, jump on the link below. 

2023-2024 Annual Wage Review – Fair Work Ombudsman 

Get in contact with your Account Manager at Beam if you have any questions and they can point you in the right direction!