New York Minimum Wage 2024 Increase. As part of the fy 2024 budget, governor hochul secured an historic agreement to increase new york’s minimum wage through 2026 and index it to inflation beginning in 2027. As part of the fiscal year 2024 budget, governor hochul secured an agreement to increase the state’s minimum wage through 2026, with indexing to inflation.

Effective march 13, 2024, the salary threshold for certain exemptions under article 6 of the new york labor law (nyll) will increase from $900 to $1,300. The nydol has set yearly increases to those thresholds for the next three years starting in 2024 as follows: