Shake Shack, a burger chain with locations in Florida, New Jersey, New York, Pennsylvania, Washington, D.C. as well as international locations in the Middle East, Russia, Turkey, and the United Kingdom, pays starting workers $9.50 an hour outside of New York City and $10 an hour for New Yorkers, CEO Randy Garutti told ThinkProgress. It also offers full-time employees health, dental, vision, retirement, and disability benefits plus paid time off.
But on average, workers get $10.70 an hour thanks to a program it calls Shack Bucks. Every month, it gives employees a percentage of the company’s top-line sales. “It’s sort of immediate revenue sharing, not a long-term program,” he noted.
The company pays about 70 percent of employees’ health care premiums and also matches contributions to their 401(k)s. He added that he is “more excited” than all of these perks about how many employees move up into manager roles. “There are a lot of people who started making $9 an hour and are now general managers in our restaurants making very good money,” he said. The owners started in fine dining and brought the compensation practices from those restaurants into its original burger and hot dog stand.
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