BofA Raises U.S. Minimum Hourly Wage to $24, Increasing Starting Salary to Nearly $50K
Bank of America (NYSE: BAC) has raised its U.S. minimum hourly wage to $24, increasing the minimum annualized salary for full-time employees to nearly $50,000. This is part of the bank's commitment to reach $25 per hour by 2025. The increase applies to all full-time and part-time hourly positions in the U.S. In the last seven years, BAC has raised its minimum hourly wage from $15 to $24.
As part of its employee benefits, 97% of BAC employees have received awards beyond regular compensation, mostly in Bank of America restricted common stock. The bank also offers 16 weeks of paid parental leave, an industry-leading sabbatical program, and personalized support for critical life events. BAC provides free education through The Academy to help employees and local community members advance their careers.
Bank of America (NYSE: BAC) ha aumentato il salario minimo orario negli Stati Uniti a 24 dollari, portando il salario minimo annuale per i dipendenti a tempo pieno a quasi 50.000 dollari. Questo fa parte dell'impegno della banca di raggiungere 25 dollari all'ora entro il 2025. L'aumento si applica a tutte le posizioni orarie, sia a tempo pieno che part-time, negli Stati Uniti. Negli ultimi sette anni, BAC ha aumentato il suo salario minimo orario da 15 a 24 dollari.
Come parte dei benefici per i dipendenti, il 97% dei dipendenti BAC ha ricevuto premi oltre alla compensazione regolare, principalmente in azioni comuni vincolate di Bank of America. La banca offre anche 16 settimane di congedo parentale retribuito, un programma di sabbatico all'avanguardia nel settore e supporto personalizzato per eventi di vita critici. BAC offre un'istruzione gratuita attraverso The Academy per aiutare i dipendenti e i membri della comunità locale a progredire nelle loro carriere.
Bank of America (NYSE: BAC) ha aumentado su salario mínimo por hora en EE. UU. a 24 dólares, aumentando el salario anual mínimo para empleados a tiempo completo a casi 50,000 dólares. Esto es parte del compromiso del banco de alcanzar 25 dólares por hora para 2025. El aumento se aplica a todos los puestos por hora, tanto a tiempo completo como a tiempo parcial, en EE. UU. En los últimos siete años, BAC ha elevado su salario mínimo por hora de 15 a 24 dólares.
Como parte de los beneficios para los empleados, el 97% de los empleados de BAC ha recibido recompensas más allá de la compensación regular, principalmente en acciones restringidas de Bank of America. El banco también ofrece 16 semanas de licencia parental pagada, un programa de sabático líder en la industria y apoyo personalizado para eventos críticos de la vida. BAC proporciona educación gratuita a través de The Academy para ayudar a los empleados y a los miembros de la comunidad local a avanzar en sus carreras.
메릴린치(주): BAC는 미국 내 시급을 24달러로 인상하여 정규직 직원의 연간 최소 급여를 거의 50,000달러로 늘렸습니다. 이는 2025년까지 25달러의 시급 목표를 달성하기 위한 은행의 약속의 일환입니다. 이 인상은 미국 내 모든 정규직 및 시간제 근로자에게 적용됩니다. 지난 7년 동안 BAC는 시급을 15달러에서 24달러로 인상했습니다.
직원 혜택의 일환으로, BAC 직원의 97%는 기본 보상을 초과하여 보상을 받았으며, 이는 대부분 뱅크 오브 아메리카의 제한적 보통주로 지급되었습니다. 또한 은행은 16주 유급 육아휴직, 업계 선두의 안식 프로그램, 중요한 생애 이벤트에 대한 개인화된 지원을 제공합니다. BAC는 The Academy를 통해 직원과 지역 사회 구성원이 경력을 발전시킬 수 있도록 무료 교육을 제공합니다.
La Bank of America (NYSE: BAC) a augmenté son salaire horaire minimum aux États-Unis à 24 dollars, ce qui porte le salaire minimum annuel pour les employés à temps plein à presque 50 000 dollars. Cela fait partie de l'engagement de la banque d'atteindre 25 dollars de l'heure d'ici 2025. Cette augmentation s'applique à tous les postes horaires, à temps plein et à temps partiel, aux États-Unis. Au cours des sept dernières années, BAC a augmenté son salaire horaire minimum de 15 à 24 dollars.
Dans le cadre de ses avantages pour les employés, 97 % des employés de BAC ont reçu des récompenses au-delà de la rémunération régulière, principalement sous forme d'actions ordinaires restreintes de Bank of America. La banque offre également 16 semaines de congé parental payé, un programme de congé sabbatique de premier plan dans l'industrie et un soutien personnalisé pour des événements de vie critiques. BAC propose une éducation gratuite via The Academy pour aider les employés et les membres de la communauté locale à faire avancer leur carrière.
Die Bank of America (NYSE: BAC) hat den Mindestlohn in den USA auf 24 US-Dollar erhöht, was das jährliche Mindestgehalt für Vollzeitbeschäftigte auf fast 50.000 US-Dollar anhebt. Dies ist Teil des Engagements der Bank, bis 2025 25 US-Dollar pro Stunde zu erreichen. Die Erhöhung gilt für alle Vollzeit- und Teilzeitstellen in den USA. In den letzten sieben Jahren hat BAC den Mindestlohn von 15 auf 24 US-Dollar angehoben.
Im Rahmen der Mitarbeiterbenefits haben 97% der BAC-Mitarbeiter Auszeichnungen über die reguläre Vergütung hinaus erhalten, hauptsächlich in Form von eingeschränkten Stammaktien der Bank of America. Die Bank bietet außerdem 16 Wochen bezahlten Elternurlaub, ein branchenführendes Sabbatical-Programm und persönliche Unterstützung bei kritischen Lebensereignissen an. BAC bietet kostenlose Bildung über die Akademie an, um Mitarbeitern und Mitgliedern der lokalen Gemeinschaft bei der Karriereentwicklung zu helfen.
- Increased minimum hourly wage to $24, raising annual salaries to nearly $50,000
- 97% of employees received additional compensation awards, mostly in BAC stock
- Commitment to reach $25 per hour minimum wage by 2025
- Offers 16 weeks of paid parental leave and an industry-leading sabbatical program
- Provides free education and career development resources through The Academy
- None.
Insights
Bank of America's wage hike to
The bank's commitment to reaching
BofA's wage increase is a strategic HR move. By offering competitive compensation and benefits, including 16 weeks of paid parental leave and an industry-leading sabbatical program, the bank is positioning itself as an employer of choice. This approach can lead to improved employee satisfaction, lower turnover rates and enhanced productivity.
The bank's investment in employee development through 'The Academy' demonstrates a commitment to long-term workforce sustainability. This focus on upskilling and career growth can foster loyalty and create a more versatile workforce, potentially reducing future hiring and training costs. However, the true ROI of these initiatives will need to be closely monitored over time.
BofA's wage increase could have ripple effects across the banking industry. As a market leader, this move may pressure competitors to follow suit, potentially leading to industry-wide wage inflation. For consumers, this could translate to improved service quality but possibly higher banking fees to offset increased costs.
The bank's focus on being recognized as a top employer (e.g., Fortune's "100 Best Companies to Work For") can enhance its brand image, potentially attracting more retail and business customers. This positive publicity might indirectly boost deposit growth and customer loyalty. However, investors should watch for any potential short-term pressure on earnings as these wage increases are implemented.
The bank has committed to
A national leader
This move builds on the bank's history of being a national leader in establishing a minimum rate of pay for
- In the last seven years, Bank of America raised the minimum hourly wage from
$15 $24 - With the increase to
$24 U.S. employees at the bank will have gone up by nearly$20,000
Competitive pay, industry-leading benefits
"Providing a competitive minimum wage is core to being a great place to work -- and I am proud that Bank of America is leading by example," said Sheri Bronstein, chief human resources officer.
As a further investment in the team,
Bank of America also offers industry-leading benefits and employee programs for all. Additional benefits include, but are not limited to:
- 16 weeks of paid parental leave
- An industry-leading sabbatical program
- Personalized support for employees navigating critical life events through our Life Event Services Team
Fostering career growth and upskilling
To help employees learn new skills and advance in their careers, Bank of America offers an award-winning onboarding, education and professional development organization called The Academy at Bank of America. Building on this employee resource, The Academy also provides free education to individuals in local communities to help advance their career growth and success.
Bank of America's leadership as a global employer has been recognized by many external organizations, including JUST Capital as a Top 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
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
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
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