PITTSBURGH — PNC Bank on Monday said that its minimum pay rate will rise 20% from $15 to $18 per hour, beginning Nov. 22, in a move to enhance employees’ financial wellness, aid attracting and retaining talent and ultimately strengthen its competitive position as it spans the country from coast to coast.
The increase will impact both PNC (NYSE:PNC) employees in legacy markets and BBVA USA employees — PNC closed its acquisition of BBVA in June but conversion will take place in October.
“Our employees are our most precious resource and, by investing in them, we invest in our future,” Vicki Henn, PNC executive vice president and chief human resources officer, said in a prepared statement. “PNC’s success is dependent on the well-being of our employees, so it’s critical that we continue to offer a total rewards package that includes competitive benefits and pay, reflecting our long-term commitment to their well-being.”
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