Seyfarth Synopsis: As they have each year since 2016, the minimum wage and exempt salary threshold will increase for New York employers effective December 31, 2020. Minimum Wage (2021) In keeping with the gradual increase in the State’s minimum wage levels, the new tiered rates across the State, effective December 31, 2020, are listed below. Although some elected officials have floated the idea of postponing the effective date of these increases in light of the COVID-19 pandemic, we expect these increases to go into effect as scheduled. The increases depend on employer size and location. The minimum wage rate for New York City employers remains $15 per hour for all employers.