April 21, 2019
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Bangor Savings sets lowest wage at $13, giving 240 a raise

BDN file | BDN
BDN file | BDN
Ryan Landry of Landry/French Construction of Scarborough finishes off some detail work on the new Bangor Savings Bank branch on Allen Avenue in Portland in January 2011.

PORTLAND, Maine — Bangor Savings Bank has set a wage floor of $13 an hour for all employees, a move the bank said will give about one-third of its employees a raise.

The bank’s “living wage initiative” means 240 of the bank’s 740 employees will get a raise, according to Carol Colson, a senior vice president at the bank. The bank said it has increased its entry-level pay over the past two years, putting the $13-an-hour rate into effect this year.

That starting wage works out to $520 per week for a full-time employee. Across all jobs in commercial banking, the average weekly wage was $1,038, according to figures compiled by the Maine Department of Labor.

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