Bank of America Increases US Minimum Hourly Wage to $23 as Next Step to $25 by 2025
- Bank of America will increase its US minimum hourly wage to $23 in October, as part of its plan to reach $25 by 2025. The minimum hourly wage will have increased by nearly $14 per hour or more than 121% since 2010. This move demonstrates the bank's commitment to being a great place to work and attracting talented employees.
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Yearly Minimum Rate of Pay for Full-Time Employees will Increase to Nearly
This move builds on the bank's history of being a national leader in establishing a minimum rate of pay for
"Providing a competitive minimum rate of pay is foundational to being a great place to work," said Sheri Bronstein, chief human resources officer at Bank of America. "By investing in a variety of benefits to attract and develop talented teammates, we are investing in the long-term success of our employees, customers and communities. Our commitment to
Bank of America's leadership as a global employer has been recognized by many external organizations, most recently including JUST Capital's #1 Company for Workers, LinkedIn's "Top Companies in the
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in
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Reporters may contact:
Eliza Murphy, Bank of America
Phone: 1.347.603.6845
eliza.murphy@bofa.com
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SOURCE Bank of America Corporation