US President Barack Obama has pushed Congress to raise the federal minimum wage to $10.10 per hour from $7.25 in Washington, and 21 states have minimum wages higher than the federal minimum.
Although other fast-food chains such as Burger King and Taco Bell use many of the same practices, McDonald's is a frequent target for critics because of its size and high profile.
In a statement, the company said it respects "everyone's right to peacefully protest".
McDonald's spokeswoman Heidi Barker Sa Shekhem said the company and its franchisees were monitoring the minimum wage debate.
"Fifteen dollars is unrealistic, but we know that the minimum-wage will increase over time," she said.
"It's time for the McDonald's Corporation ... to stop pretending that it can't boost pay for the people who make and serve their food," said Mary Kay Henry, president of the Service Employees International Union, who was among those arrested at the protest in Oak Brook, Illinois. Organizers said 2,000 people turned out for the rally.
A recent report from New York think tank Demos found that the CEO-to-worker compensation ratio for the fast food industry was more than 1,000-to-1 in 2013.
Thus far, public pension fund managers from New York, Connecticut and the California Public Employees' Retirement System have said they plan to vote against the McDonald's executive pay advisory measure at the company's annual meeting on Thursday.
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