CA - Bank of Montreal implements fourth wage increase in two years
- Bank of Montreal ( NYSE: BMO ) said Monday it will lift its minimum hourly wage for all qualified U.S. employees to $20 per hour starting on March 12, marking the Canadian lender's fourth wage hike in two years.
- The wage increase applies to new hires and current team member from BMO U.S. and the recently acquired Bank of the West who earn below the new minimum base pay, it noted.
- "We want to reward our team in a way that reinforces their value to our organization and is competitive with the market," said Larissa Chaikowsky, chief human resources officer for BMO U.S.
- In August, BMO raised its hourly base pay to $20 per hour for full- and part-time branch and Customer Contact Center team members .
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Bank of Montreal implements fourth wage increase in two years