What Is Ny Minimum Wage 2024. 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 2024, new york state will raise minimum wage to $16 in new york city, long island, and westchester and $15 elsewhere in the state, followed by $0.50 annual increases in 2025.

New york state’s minimum wage. Starting january 1, 2024, minimum wage will rise to $16 per hour in new york city and select counties (nassau, suffolk, and westchester), and $15 per hour in other parts of.