Millennials Can Make $100k Working At Taco Bell

Millennials are now considered "generation broke" with their insurmountable student debts, near-record auto loans, high credit card balances with rates at two-decade highs, and limited savings. Many are stuck in the gig-economy with more than one job. Finding a high-paying job this late in an economic expansion is hard to come across. 

So paging all millennials, a new press release via Taco Bell details how the Tex-Mex fast-food restaurant is planning a pilot program to hire managers with a starting salary of $100,000 at company-owned restaurants in select markets.

The Yum! Brands Inc.-owned chain will run the pilot program in the US Midwest and Northeast. The company will also increase pay for mid-level employees who want to take on other leadership roles. 

"We are constantly exploring new ways to invest in our people, enhance morale and boost recruitment and retention," Ferril Onyett, Taco Bell's senior director of global training and international HR, told MarketWatch in an emailed statement. Managers have "a huge impact" on the restaurant performance, customer experience, and "team member satisfaction," she added.

"We are constantly exploring new ways to invest in our people, enhance morale and boost recruitment and retention," Ferril Onyett, Taco Bell's senior director of global training and international HR, told MarketWatch in an emailed statement. Managers have "a huge impact" on the restaurant performance, customer experience, and "team member satisfaction," she added.

Onyett said there's no timeline on when all 450 company-owned stores will get $100,000 managers, adding that current managers make around $50,000 to $80,000. 

"We hope we can evaluate the effect of increased salaries on manager and team morale, restaurant performance, recruitment and retention, and customer experience," Onyett said.

The announcement comes as nearly half of all US restaurants are suffering from rising labor costs. We outlined this new phenomenon plaguing restaurant operators on Thursday.

While rising labor costs might not lead to the end of the $5 Taco Bell box, it will undoubtedly lead to margin compression as the company will have to eat higher labor costs and avoid raising food prices on low-income Americans, or their customer base will shift to other fast-food options. 

As for broke millennials with insurmountable debts, no savings, and several jobs in the gig-economy so late into an economic expansion, it might be a good time to contact Taco Bell to secure a $100,000 managerial job before the next recession.