Most Charles Schwab employees to receive a 5% pay increase

Charles Schwab announced that it will implement a special 5% pay increase for the 'vast majority' of its employees. This pay raise is to reward the employees for efficiently working through the pandemic and for their contributions during challenging times. The company saw a growth in trading and rising stock markets during the covid 19 pandemic, doubling their stocks, bonds and other securities to $257 billion as compared to last year. 

Walt Bettinger, the CEO of Charles Schwab said in a statement that this increase in pay rewards talented employees and their commitment to see the world through clients' eyes, even during the most challenging times. 

Source: CBS News