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: Chipotle says it can offer workers the chance for a six-figure salary in 3.5 years

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Chipotle Mexican Grill Inc. announced a wide range of compensation incentives on Monday, including a pathway to a six-figure salary, as it seeks to hire 20,000 workers in the U.S.

Chipotle
CMG,
-1.68%

is bumping pay for new and existing hourly and salaried workers, which will drive wages for hourly crew members up to $11 to $18 per hour . The average hourly wage will be $15 per hour by the end of June, the company said.

Chipotle is also promising a career path for interested workers, which will lead them to the “restauranteur” title, the highest general manager position, and an average pay of $100,000 in 3.5 years.

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“Chipotle is committed to providing industry-leading benefits and accelerated growth opportunities, and we hope to attract even more talent by showcasing the potential income that can be achieved in a few short years,” said Marissa Andrada, chief diversity, inclusion and people officer at Chipotle, in a statement. 

The company has also introduced referral bonuses for workers: $200 employee for crew members and $750 for “apprentices” or general managers.

Also: Some states are cutting unemployment payments to push people back to work — are extra benefits really keeping Americans out of the labor force?

Chipotle will be hosting a virtual career fair on the Discord online community platform on May 13 from 10am to 1pm PT.

Chipotle joins a number of other consumer companies that will be hosting job fairs in the search for thousands of workers, including Yum Brands Inc.’s
YUM,
+0.84%

KFC chain and the Lowe’s Cos. Inc.
LOW,
+2.80%

home improvement retail chain.

Don’t miss: Businesses can’t find enough workers — many fear catching COVID-19 or prefer to live off unemployment

Chipotle stock is up 1.1% for the year to date while the benchmark S&P 500 index
SPX,
-0.00%

has gained 12.5% for the period.

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