NEW YORK (AP) — PNC Bank is the latest large U.S. financial services company to increase wages in a bid to keep and attract employees. It is raising its minimum wage to $18 an hour while also giving higher-paid workers a bump in pay.
The bank said Monday that the wage increase will apply to both PNC employees as well as those working for BBVA USA, which PNC acquired last year. Base-level PNC employees will see their wages increase from $15 an hour to $18, a 20% pay raise. The increase is more substantial at BBVA, which had an $11 minimum wage before PNC bought the bank.