Wells Fargo is raising its minimum wage in most markets. Here's what it means for local employees.

Wells Fargo & Co. said it will increase its minimum wage in most of its U.S. markets by the end of the year, with Philadelphia workers seeing a bump from $15 an hour to $18, according to a local spokesman. San Francisco-based Wells Fargo (NYSE: WFC) is the Philadelphia region’s largest bank by deposits and also one of the largest local employers with more than 6,000 workers. The bank said minimum pay across the country will range between $15 and $20 an hour, and will be tiered based on various…