How Rich Is The In-N-Out CEO And What's The Average Pay Of Its Employees?
According to its official website, In-N-Out was California's first drive-through burger stand when it was founded in 1948 by Harry and Esther Snyder. Known for their always-fresh and tasty burgers, In-N-Out has since developed a devoted following, including many celebrities. When the iconic California chain opened its first location in Colorado in November 2020, people lined up for 14 hours to get a taste (via ABC7). In a 2019 survey, In-N-Out was ranked the top burger chain in America (via Business Insider).
Lynsi Snyder, the founders' granddaughter, took over as the company's president in 2010. According to Forbes, Snyder has a current estimated net worth of $3.6 billion. This is a significant increase from a net worth of $1.3 billion in 2017, when Snyder received the final part of her inheritance at age 35 to own 97% of the still-private company (via Forbes).
Snyder started working at In-N-Out when she was 17, applying for a job just like anyone else and beginning her career in food prep (via Orange Coast). She's since worked in human resources and merchandising before finally taking over as president, after her grandmother Esther's death in 2006 (via The Orange County Register).
How much do In-N-Out employees make?
According to Indeed, the hourly wage for employees at In-N-Out ranges from around $11.94 an hour for an Order Taker to $22.36 an hour for a Data Entry Clerk, while annual salaries range from $17,324 a year for a Customer Service Representative to $44,796 a year for a Store Manager. Store Managers have the potential to make as much as $160,000 a year, triple the industry average, and it's a position that any employee can work toward, no college degree or management experience necessary (via USA Today). In-N-Out also offers generous benefits, including flexible schedules, free meals, paid vacations, health insurance, and a 401K plan (via Quartz). There's a reason In-N-Out was ranked the third best company to work for, according to Glassdoor.
It helps that In-N-Out is still privately held and doesn't have to answer to public shareholders when it comes to paying its employees well, at the expense of the bottom line. And that status won't change anytime soon. Snyder has emphatically stated that the company would "never" go public or have franchises (via CBS News).