Charles Schwab Increasing Employee Pay by 5%

By Stephen Nakrosis

Charles Schwab Corp. on Thursday said it is implementing a 5% pay increase for employees and delaying its full return to the office until January at the earliest.

The company said the pay increase is in recognition of worker's "unwavering service to clients and each other throughout the pandemic."

The salary increase will apply to most employees, Schwab said, but won't include the Executive Council or those participating in the company's incentive compensation plans. The special increase will be applied in late Sept., the company said.

Schwab said while it is delaying its full return to the office, employees can return to the office on a voluntary basis or continue to work from home. Once they return to the office, workers will have "additional workplace flexibility, based on a hybrid work schedule," Schwab said.

-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

August 19, 2021 17:17 ET (21:17 GMT)

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