BMO Raises Minimum Pay for US Workers to $20 in Fight for Labor
A BMO Harris Bank branch in Chicago.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Bank of Montreal is raising the minimum wage for its US branch and contact-center employees to $20 an hour, its second such pay bump in less than a year, as companies fight for workers in a tight labor market.
The increase from $18 an hour takes effect Aug. 7, the Toronto-based bank said in a statement Monday. The boost applies to current full- and part-time workers as well as new hires.