Truist jumps in on big banks’ race to raise minimum wages

Bank of America Corporate Center, Truist Center Bank of America Corporate Center (left) and Truist Center are seen among the towers of uptown Charlotte's skyline. (MELISSA KEY/CBJ)

By Charlotte Business Journal

CHARLOTTE — Truist Financial Corp. is the latest of Charlotte’s big banks to hike its minimum wage above $20 per hour. The company announced in a press release this morning that it is increasing its minimum hourly pay for U.S. employees to $22, effective Oct. 1.

[ ALSO READ: Bank of America’s minimum wage to go up to $22 an hour ]

Charlotte-based Truist follows several of its peers in raising minimum pay.

Its minimum wage previously ranged from $15-$18 per hour, based on geography. The move will provide a boost to 14,000 of its employees, including 81% of those who are in client-facing roles in retail and small-business banking.

Read more here.

(Watch below: Bank of America ups minimum wage for a second time in less than a year)

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