Santander Bank raising its minimum wage to $20/hour

Increase is part of movement to provide better training, career development

Santander Bank announced Tuesday that it is increasing the minimum wage for all workers to $20 an hour, effective April 3.

The increase will apply to anyone who works onsite in branches, call centers and corporate offices.

The bank, which has approximately two dozen branches in northern New Jersey, has been quickly increases wages. Between 2018-22, the bank increased its minimum wage by more than 33%.

For Santander Bank retail branch employees, this latest wage increase was implemented in January and February, as team members continued to serve and support clients in-person throughout the Omicron surge.

Santander U.S. CEO Tim Wennes said the increases are a way to show gratitude toward its employees.

“Our customer-facing team members across Santander U.S. provide in-person support and business-critical services to our clients to help them achieve their financial goals,” he said. “This latest pay increase recognizes their hard work and contributions and ensures we remain competitive in the marketplace as we look to attract and retain top talent.”

In addition to base pay increases, merit increases and bonus opportunities, Santander also invests in team member training, career development, health and wellness programs and employee network groups to help colleagues achieve their personal and professional goals, Wennes said.

Santander officials said the bank strives to be an employer of choice and is committed to supporting its team members, especially through the pandemic. Support of team members through COVID-related disruptions has included programs like daily stipends, emergency paid time off, additional PTO to receive or recover from the COVID-19 vaccine, and expanded child care and adult care benefits.

Santander is recruiting top talent across the U.S., including in its branches and operations centers. To view open roles, interested candidates can click here.