PNC to Raise Base Wages to $18 an Hour, Latest Bank to Do So

NEW YORK—PNC Bank is the latest large U.S. financial services company to increase wages in a bid to keep and attract employees, 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 percent pay raise. The increase is more substantial at BBVA, which had an $11 minimum wage before PNC bought the bank. About 20,000 PNC and BBVA employees will see their base pay rise to $18 an hour, the bank said. “We want the best we can find, and we can afford to do so,” said Bill Demchak, chairman and CEO of PNC Financial Services Group Inc., in an …

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