Citigroup Quietly Adopts $15 Minimum Wage
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Business
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University
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Practice Problem
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Hard
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The transcript discusses how banks are quietly increasing wages, with Citigroup raising its minimum wage to $15 an hour. This move follows similar actions by JP Morgan, Wells Fargo, and Bank of America. The discussion highlights the challenges banks face, such as pressure to address social issues like the income gap and gender diversity. Additionally, regulatory scrutiny on banker pay is expected to increase. The focus on social responsibility is seen as a strategic move during a tough time for banks.
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2 questions
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OPEN ENDED QUESTION
3 mins • 1 pt
What societal issues are the banks focusing on as mentioned in the text?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
How are regulators expected to influence banker pay in the coming year?
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