Associated Bank increases minimum wage from $10 to $15, offers bonus after tax bill approval
GREEN BAY — Associated Bank on Thursday, December 21st announced plans to raise its minimum hourly wage from $10 to $15 per hour and to distribute a one-time bonus of $500 for all hourly, non-commissioned employees once tax reform legislation is signed into law.
According to a press release from Associated Bank officials, the pay increase and one-time bonus are expected to be distributed during the first pay cycle of 2018. This combined investment in the company’s workforce will positively impact 55% of its employees.
Associated Bank President and CEO Philip Flynn said the new tax legislation, particularly the reduction in business tax rates, allowed the company to share some of the benefits with its employees. It also helps position the company to further enhance the customer experience and its community investments in the future, he said.