Ohio State is set to raise the minimum wage to $15 per hour next year. | Credit: Lantern file photo

Ohio State will raise the minimum wage for all university and Wexner Medical Center regular staff and term staff positions to $15 per hour beginning in 2020, University President Michael V. Drake announced Friday. 

The increase — which will be implemented with Ohio State’s annual merit compensation process in 2020 — will impact about 3,800 staff employees, according to press release. An additional 1,000 employees who are already earning $15 per hour will receive a raise to $16 per hour, impacting 4,800 staff members total.

“This effort is in keeping with a competitive marketplace and — as the state’s fourth-largest employer — the university’s commitment to invest in individuals and families throughout our Buckeye community,” Drake said. “Our greatest strength is our people.”

Raising the minimum wage is expected to cost Ohio State around $19 million, including pay and benefits, according to the press release. It will be funded by an “an ongoing administrative efficiencies program in units across the university” that was launched in 2015. 

Students who work in staff positions are included, but positions classified as student jobs are not included, the release states.