News Topic: Compensation

The outcome at Beneficial State may be hard for organizers to replicate at other banks, but it serves as a reminder that labor groups see an opportunity in an industry where many low-paid workers chafe against sales pressure. ... Read full article

Mastercard disclosed its gender pay gap for the first time on Monday, saying that its female employees worldwide make 7.8% less than the men. The company said it is working toward parity. ... Read full article

A study by the House Financial Services Committee on the industry’s efforts to hire and promote more women and minorities has sparked a dispute over whether banks should have to be more transparent about those efforts. ... Read full article

The BofA CEO’s $26.5 million salary was about the same as in 2018; investors hoping for quick riches still fall for cryptocurrency-based Ponzi schemes. ... Read full article

The country’s banks plan to raise overdraft rates to 40%, which has regulator watching; starting this year pay increases won’t be retroactive to Jan. 1. ... Read full article

The changes will mean a bigger gap between the best and worst borrowers; the bank will require companies they take public to have a ‘diverse’ board member. ... Read full article

JPMorgan Chase gave its chairman and CEO a 1.6% hike in total compensation in 2019 after a second consecutive year of record profits. ... Read full article

The bank will continue to hold cash in sweep accounts until 2031, although at a lower rate; capital requirements could lead big banks to hold off lending. ... Read full article

Businesses scaled back investment plans in the third quarter, but consumers continued borrowing; the bank now plans to raise its minimum wage to $20 in 2020. ... Read full article

Bank of Montreal's push into the U.S. has proved fruitful for its employees — and challenging for a company seeking to get its expenses under control. ... Read full article

Year to date through Jun. 30, 2019. Dollars in thousands. ... Read full article

Treasury Secretary says regulators could look to help ease liquidity logjam in money markets; workers will get special bonuses for the third straight year. ... Read full article

Citigroup has set measurable goals for increasing representation of women and U.S. minorities in senior, higher-paying roles and CEO Michael Corbat is urging other financial firms to follow suit. ... Read full article

New unit will work with foreign governments; standards too soft on those without conventional paychecks. ... Read full article

Citigroup quietly boosted its minimum wage to $15 an hour in June, joining competitors in awarding raises to rank-and-file staff. ... Read full article

Year to date through Mar. 31, 2019. Dollars in thousands. ... Read full article

The offering would mirror a similar move by Charles Schwab to offering clients a new pricing plan for its robo service. ... Read full article

Executive searches are hard enough, but a shortage of qualified candidates with strong resumes will make filling those jobs that much more challenging. ... Read full article