Truist Financial Raises Hourly Wage

(RTTNews) - Truist Financial Corp. (TFC) announced the company will boost minimum U.S. hourly pay rate to $22 effective Oct. 1. Previously, the company's minimum wage ranged from $15-$18 per hour. The company said the new wage will positively impact approximately 14,000 Truist teammates, including 81% in client-facing roles primarily within its retail and small business banking businesses.

"Truist strives to competitively compensate our teammates for the tremendous work they do for our clients and stakeholders, and we take a Total Rewards approach, including offering highly competitive wages, a robust wellness program, comprehensive benefits and an industry-leading 401(k) and pension program," said Kimberly Moore-Wright, chief teammate officer.