- New Mexico minimum wage 2024
- Tip minimum wage
- Tip pooling and sharing
- Subminimum wage
- New Mexico Minimum Wage Laws 2024 FAQs
- Other State's Minimum Wage Information
New Mexico minimum wage 2024
New Mexico’s current minimum wage is $12.00. NM Statute 50-4-22; NM Department of Workforce Solutions Minimum Wage Information
Higher minimum wage rates may apply in Albuquerque, Bernalillo County, Las Cruces, City of Santa Fe, and Santa Fe County. NM Department of Workforce Solutions Minimum Wage Information
New Mexico employers must also comply with federal minimum wage laws, which currently sets the federal minimum wage at $7.25. For further information, see FLSA: Minimum Wage.
Suppose an employer chooses to pay employees minimum wage. In that case, the employer must pay those employees in accordance with the minimum wage law, either federal or state, that results in the employees being paid the higher wage.
In most instances in New Mexico, the New Mexico minimum wage will apply as it generally guarantees a higher wage rate for employees than federal law.
Tip minimum wage
New Mexico’s minimum wage for tipped employees is $3.00. NM Statute 50-4-22; NM Department of Workforce Solutions Minimum Wage Information
Higher tip minimum wage rates may apply in Albuquerque, Bernalillo County, Las Cruces, City of Santa Fe, and Santa Fe County. NM Department of Workforce Solutions Minimum Wage Information
Employers may pay the tipped wage rate to employees who customarily and regularly receive more than $30 in tips per month.
If employers choose to pay employees the tipped minimum wage, they must also ensure they are paid the standard minimum wage when tipped wages are combined with tips received.
If employees are not paid the standard minimum wage when tipped wages earned are combined with tips received, employers must make up the difference.
Tips received by employees must be retained by them. NM Statute 50-4-22
Tip pooling and sharing
New Mexico minimum wage laws allow employees to participate in tip pooling or tip sharing arrangements. It does not address whether employers may require employees to participate in tip pooling or tip sharing arrangements, but it does not specifically prohibit employers from doing so. NM Statute 50-4-22
Employees with disabilities
New Mexico minimum wage laws authorize the Director of the Labor and Industrial Division of New Mexico’s Department of Labor to implement regulations permitting employers to obtain special certificates. These certificates allow them to pay employees with disabilities subminimum wage rates no less than 50 percent of the standard minimum wage. NM Statute 50-4-23
New Mexico minimum wage laws do not permit employers to pay trainees a subminimum wage rate that is less than the standard minimum wage.
New Mexico minimum wage laws exempts apprentices from its minimum wage and overtime requirements. NM Statute 50-4-21. Wage requirements for apprentices and learners are addressed in NM Statute 50-7-1 et al.
New Mexico minimum wage laws exempts learners from its minimum wage and overtime requirements. NM Statute 50-4-21.
New Mexico minimum wage laws do not allow employers to pay student learners a subminimum wage rate that is less than the minimum wage, unless otherwise exempt.
New Mexico minimum wage laws do not allow employers to pay student workers a subminimum wage rate that is less than the minimum wage, unless otherwise exempt.
New Mexico Minimum Wage Laws 2024 FAQs
Do all municipalities follow the minimum wage rate in New Mexico this 2024?
No, not all of them. As mentioned above, some areas provide a higher minimum wage rate.
Five municipalities, in particular, have their own minimum wage rates.
Will New Mexico’s minimum wage rate increase in 2024?
The minimum wage increased to $12.00 on January 1, 2024.
How can New Mexico’s business owners prepare for future minimum wage rate increases?
Unlike other states that require a certain number of employees, New Mexico’s wage laws require all small businesses with one or more employees to pay minimum wage.
Hence, it is crucial to prepare for such increases in employee costs to prevent non-compliance and even bankruptcy.
There are different methods on how to do so, but here are the steps we’ve found most efficient:
- Adjust the Business Budget
Cut down any unnecessary spending. You may also choose to reassess the partners, such as your suppliers and courier, to see if there are more affordable opportunities out there.
Business experts suggest increasing employee retention since turnover costs can be quite expensive, especially in the long run.
- Assess Your Current Talent
Is everybody rising up to the task? Are there workers that are not as productive?
You might also want to explore the possibilities of hiring freelancers or seasonal employees instead. This is especially true for businesses that have peak and off-peak seasons.
- Work With the Right Tools
There are different digital platforms specifically designed to assist businesses in dealing with their payroll management. This ensures that every payroll day will run smoothly.
It can also provide you with interesting data that can help you further assess the state of your human resources.