Current salary for a general manager at Taco Bell: $50,000-80,000. The company announced Thursday it wants to pay select managers up to $100,000.
The home of Doritos Locos Tacos says it’s going to test paying managers $100,000 a year at some company-owned locations in the Northeast and Midwest starting later this year. Taco YUM, -0.73% announced the plan Thursday and also said that as of Jan. 1, 2020, all of its company employees “can become eligible to receive” at least 24 hours of paid sick time per calendar year.
The announcement comes as unemployment has been hovering around a 50-year low, putting pressure on employers to offer higher wages. About half of Americans said they got a pay raise in 2019, an 11 percentage point increase over the previous year, a recent Bankrate survey found. Taco Bell isn’t the first fast-food restaurant to offer managers six-figure salaries The privately held California-based fast-food chain In-N-Out Burger has been paying its managers $100,000 and above for at least the past decade, said Denny Warnick, vice president of operations. The average salary for one of its restaurant managers is now more than $160,000 a year, he said. Starting wages at the chain range from $12 to $17 an hour, depending on the location.
The average CEO at fast-food companies earned $23.8 million in 2013, and the average hourly wage of fast-food employees then was $9.09. The CEO of Taco Bell parent company Yum! Brands earned a $1.2 million salary in 2018 and his total compensation was $14 million, according to SEC filings. Yum! Brands did not immediately respond to a request for comment.
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