Only a few months after major fast food chains were the subject of employee protests as they asked for better wages for their work in venues of restaurants like McDonald's or KFC, Shake Shack workers don't only make more than minimum wage, some of them are even profiting from the fact that the company's now gone public.
Fast food chains these days have received a lot of flask after the discovery that they'll often pay less than minimum wage to their employees, as they've marched and demanded better pay and the right to create unions and organize their guild; however, Shake Shack workers, on the other hand, have way less to worry about in the money department.
According to CNN, after the company went public this Friday and their IPO went for higher than had been expected, Shake Shack workers in mid-to-higher positions got their reward as well, when the company's 160 managers got a salary boost due to the fact that they contractually get revenue-sharing and even health benefits.
As Business Insider reports, the initial bidding for the New York City-based casual fast food chain went as high as 150 percent of the expected bidding of $21, closing up at $45.90 - and a good number of the Shake Shack workers racked up on the benefits of this Friday's IPO.
BBC reports that the casual fast food chain, born in 2000 as a food cart in Madison Square Park, has grown rapidly in the last few years, particularly since 2009, as it has expanded to 63 locations between the United States and abroad, with customers paying up an average of $13, much higher than in traditional fast food restaurants, making it profitable to maintain higher salaries.
While they might not get IPO benefits, the 1,450 hourly Shake Shack workers all make more than the local minimum wage, with a starting salary of at least $10 in the New York City area - a strategy the company has stated they mean to maintain, as it means enticing better and more equipped workers.
