**UPDATE ON PROPOSITION 32** It has been two weeks since the state-wide election, and the vote is still not in—pun intended—whether the state minimum wage will be raised. At this point the margin is currently less than 1% ("No" is?still in the lead). If passed, this law would be effective "immediately"?or five days after the Secretary of State certifies the election results. Depending on the certification date, this could mean any time between November 24, 2024, and December 18, 2024. Apollo Legal Group will continue to monitor the results. Still, as a reminder, the minimum wage for all California employees is already set to increase to $16.50 for all employers on January 01, 2025.
Will The State Vote to Raise State Minimum Wage? California is awaiting the final results of this new law that would immediately raise the minimum wage to $17 for most workers and at least $18 an hour starting Jan. 1, 2025, if the business has at least 26 employees. Employers with 25 or fewer would be required to pay employees at least $17 an hour starting Jan. 1, 2025, and at least $18 an hour starting Jan. 1, 2026. This also means that some exempt employees may get a raise as well. Most exempt positions require a minimum salary equal to two times the state minimum wage, which is currently set at $66,560. Consequently, if this law passes, smaller employers (25 or less) will need to increase salaries for these exempt employees to at least $70,720 by January 1, 2025. Employers with 26 or more employees must immediately increase the minimum annual salary to $70,720 and then increase it again on January 1, 2025, to $74,880; this is over a 10% increase within two months. Please note that this annual salary requirement cannot include bonuses. The race is close and just over 50% of the votes are in, Apollo Legal Group will continue to watch and report as needed.