Raising Canes raising average hourly wage to $19.50

LOUISIANA (KLFY) -- Fast-food chain Raising Cane's is raising its average minimum hourly wage to more than $19, company co-CEO and COO AJ Kumaran told Yahoo Finance last week.

It's part of a more than $9 million investment into its workforce, Kumaran explained.

Part of the investment is moving all hourly managers to an $18-an-hour minimum pay, bringing the average hourly pay at the company to $19.50, according to details shared with Nexstar's KLFY.

Raising Cane's is also offering hourly employees the chance to make an additional $2 per hour during their first year of employment and for training employees as well as an additional $1 for working past 10 p.m. or during major events, and for completing "crew certifications."

Additionally, Raising Cane's is launching a program to encourage experienced employees to travel to a new city -- where they will live rent-free for three to six months -- to help launch new restaurant locations.

The restaurant is also offering restaurant leaders who are first-time homebuyers $10,000 towards closing costs.

Raising Cane's is currently looking to expand, with plans to open 1,500 domestic and international locations that will employ more than 150,000 new people. During the month of May, Raising Cane's is slated to open locations in California, Florida, New Mexico, Texas, Massachusetts, and Maryland.

Raising Cane's wage hike is still lower than some national chains. Some McDonald's locations, for example, are offering upward of $20 an hour, while national retailer Target has a starting pay range of $15 to $24 an hour.