(KFDX/KJTL) — Citigroup has raised its US minimum wage to $15 an hour.
The hike occurred after democrats on the house financial services committee pressured Citi and other firms to compensate all employees fairly. The change took effect on June 1.
Citi’s US competitors have already announced pay hikes.
Bank of America has committed to raising its minimum wage to $20 an hour over the next two years.
Wells Fargo raised its minimum wage to $15 an hour in March.
The country’s largest bank, JP Morgan Chase, increased its minimum wage last year to $15-18 an hour, depending on the location.