Housing Wire: Fifth Third Bancorp to raise minimum wage to $18

Housing Wire, August 6, 2019: Fifth Third Bancorp to raise minimum wage to $18

Fifth Third Bancorp saw Bank of America’s recent minimum wage increase to $17 and raised them $1.

Starting in October, almost 5,000 Fifth Third Bancorp employees will see a nice boost in their paychecks. After raising its minimum hourly rate from $12 to $15 in January 2018, the bank will once again increase its rate, this time to $18 per hour, the company announced Tuesday.

“We’re pleased to invest in the people who, every day, deliver banking that is a Fifth Third better,” said Chairman, President and CEO Greg Carmichael. “A competitive compensation and benefits package is essential to our ability to attract and retain the industry’s best and brightest. It is that talent that differentiates Fifth Third and enables us to serve our customers with distinction.”

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