Wells Fargo said Wednesday that it will raise the minimum wage for its hourly workers to a range of $15 to $20 per hour, based on where the job is based.
The bank said employees in high-cost markets such as San Francisco and New York will earn $20.
Workers in lower-cost markets, such as Charlotte and Des Moines, Iowa, will earn $16.
The pay raises, taking effect by the end of 2020, will affect more than 20,000 employees.
