Associated Bank increases minimum wage
Green Bay-based Associated Bank announced that it will raise its minimum wage from $10 to $15 and distribute a one-time bonus for all hourly non-commissioned employees (55% of Associated’s staff).
The pay increase and bonuses would be distributed during the first quarter of 2018.
In a release, Philip B. Flynn, president and CEO, explained that the new tax legislation, and the reduction of business tax rates in particular, is allowing the bank to share some of the benefits with employees.
Associated is not alone. Mega companies such as AT&T, Boeing, Comcast, Fifth Third Bancorp, and Wells Fargo also announced plans to pass some of the tax savings on to employees in the form of one-time bonuses or wage increases.