S&T Bank announced it will raise its base pay rate to $15 per hour for all positions, effective January 2022, furthering its longstanding commitment to workforce development and to creating opportunities in the communities it serves.
“I am extremely proud and grateful of the efforts from our team members who are our most valuable resource,” said Chris McComish, chief executive officer. “This adjustment is just one way we are investing in our people.”
As some pay compression will result from the base rate increase, S&T has taken additional steps and will continue to implement measures to recognize and reward tenured employees that continue to serve our customers and support the strategic initiatives of the bank. In total 501 employees, or approximately 43% of S&T’s workforce, will receive an adjustment.
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Rather than simply providing jobs, S&T is proud to offer its employees careers. The base rate increases along with our comprehensive total compensation, which includes employee benefit plans, 401(k) contribution, workplace flexibility, paid time off, paid time for community involvement, education and training opportunities, as well as tuition reimbursement programs distinguish S&T in the market allowing the bank to attract and retain top talent.
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