San Antonio-based Frost Bank raises minimum wage to $20 per hour
One of San Antonio's biggest employers is implementing a wage hike. Frost Bank is increasing its minimum wage to $20 per hour, according to a news release. The pay raise went into effect on Monday, December 20, for more than 1,800 employees across Texas, including bankers, tellers, call center operators, and support staff.
"We've increased vacation, paid time off, caregiver time and community service time off," says Frost chairman and CEO Phil Green in the news release. "We've invested in technology to make us more effective and to keep us connected. And we just invested $3.5 million to reduce medical plan premiums."
The increased minimum wage amounts to a $15 million investment for the company. Frost also invested $3.5 million to reduce medical plan premiums.
"We continuously study our markets to make sure that we provide a fair and competitive compensation package for our employees," Green said.
Read more: https://www.mysanantonio.com/business/article/Frost-Bank-raises-minimum-wage-for-employees-16716523.php
