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Aug. 19, 2021, 11:13 a.m. EDT

MetLife raises minimum wage to $20 an hour

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By Tomi Kilgore

MetLife Inc. /zigman2/quotes/206319319/composite MET +0.11% said Thursday that it is raising the U.S. minimum wage to $20 an hour, as the financial services and insurance company increases its investment in its employees. "By raising our minimum wage, we're offering security and confidence to our people just as we do our customers," said Chief Executive Michel Khalaf. MetLife's new minimum wage is compares with the $15 minimum wage recently instituted by many other companies in different sectors, including CVS Health Corp. /zigman2/quotes/209664499/composite CVS -0.48% and Coach-parent Tapestry Inc. /zigman2/quotes/207417762/composite TPR -0.56% , while Synchrony Financial /zigman2/quotes/203661733/composite SYF -1.36% also raised its minimum wage to $20 an hour. MetLife's stock, which fell 1.5% in morning trading, has run up 27.9% year to date, while the SPDR S&P Insurance ETF /zigman2/quotes/205505650/composite KIE +0.12% has tacked on 15.9% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.04% has gained 17.1%.

/zigman2/quotes/206319319/composite
US : U.S.: NYSE
$ 69.79
+0.08 +0.11%
Volume: 4.65M
Feb. 3, 2023 4:00p
P/E Ratio
23.80
Dividend Yield
2.87%
Market Cap
$54.76 billion
Rev. per Employee
$1.63M
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/zigman2/quotes/209664499/composite
US : U.S.: NYSE
$ 85.77
-0.41 -0.48%
Volume: 7.26M
Feb. 3, 2023 4:00p
P/E Ratio
36.39
Dividend Yield
2.82%
Market Cap
$112.70 billion
Rev. per Employee
$1.05M
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/zigman2/quotes/207417762/composite
US : U.S.: NYSE
$ 46.11
-0.26 -0.56%
Volume: 2.52M
Feb. 3, 2023 4:03p
P/E Ratio
14.64
Dividend Yield
2.60%
Market Cap
$11.11 billion
Rev. per Employee
$370,724
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/zigman2/quotes/203661733/composite
US : U.S.: NYSE
$ 37.05
-0.51 -1.36%
Volume: 5.66M
Feb. 3, 2023 4:00p
P/E Ratio
6.07
Dividend Yield
2.48%
Market Cap
$16.69 billion
Rev. per Employee
$733,056
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/zigman2/quotes/205505650/composite
US : U.S.: NYSE Arca
$ 43.07
+0.05 +0.12%
Volume: 469,214
Feb. 3, 2023 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,136.48
-43.28 -1.04%
Volume: 0.00
Feb. 3, 2023 4:54p
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