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Maybe the serfs wont look so unfavorably at their crony/govt counterfeiting business model if they virtue signal enough. I see its working on some already. Besides we can always bail them out if they err in overpaying their employees.
How will they compete with banks that offer-market rate wages? They'll have to raise the rates on services, or maybe cut staffing. The bank I now use has ONE teller, and the line is long, especially around lunchtime.
Reminds me of how printers would brag "we pay Union rates" as if that would attract buyers. All it meant was that were paying a kid with a HS degree $25 an hour to run the press, and the price for the finished product was much higher to the purchaser.
There's no free lunch. Somebody always has to pay.
$20 an hour is nothing in the USA. For any position that requires a college education, the minimum wage should be at least $100 an hour in the USA and $20 an hour can be for positions like burger flippers, etc.
Me? I'm going to check in with my local bank AND Fidelity and Vanguard and make sure they are paying living wages. Social justice is good.
The banks are getting a windfall from Trump--they better be paying higher salaries. I can tell you that as of now--their customer service has a lot of reps that know nothing--they need higher quality personnel.
If they pay tellers $41,000, don't you think the Asst Branch Manager earning $45k is going to balk? They're going to have to bump up their salaries too. But wait, now they're at $55k, and the Branch Manager earning $65k needs a raise also.
Their compensation costs are going to jump big time, unless of course they plan to use technology to replace more employees. Might be a money-saver, after all!
$20 an hour is nothing in the USA. For any position that requires a college education, the minimum wage should be at least $100 an hour in the USA and $20 an hour can be for positions like burger flippers, etc.
So $200,000 a year for any Joe Blow who manages to squeak by State U with a C average?
If they pay tellers $41,000, don't you think the Asst Branch Manager earning $45k is going to balk? They're going to have to bump up their salaries too. But wait, now they're at $55k, and the Branch Manager earning $65k needs a raise also.
Their compensation costs are going to jump big time, unless of course they plan to use technology to replace more employees. Might be a money-saver, after all!
So let's just keep wages low and let people barely scape by. Meanwhile, Bank of America saw a profit of close to $23 billion last year, and the CEO is pulling in excess of $22 million a year. All the C-Suite executives are taking home tens of millions of dollars every year.
But sharing the wealth by paying their workers a good wage is going to break them.
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