PITTSBURGH — BNY Mellon is the latest big financial institution to raise pay.
The New York-based bank on Thursday said its minimum hourly salary for U.S. employees will increase from the present $16.50 to $18.00.
BNY Mellon (NYSE:BK) also said it will provide the greater of a 3% salary increase or salary raise to $20 to any U.S. employee earning between $18 and $20.
The changes are effective Dec. 1.
New employment offers will also adhere to the $18 per hour minimum, starting immediately.