Bank of America has announced an increase in its minimum hourly wage to $24, effective next month, as part of its plan to reach $25 per hour by 2025. This raise, up from $23, translates to an annual salary of approximately $50,000 for full-time employees and reflects the bank’s commitment to competitive pay, having raised its minimum wage significantly from $15 in 2017. The move aims to attract and retain talent amid a tightening labor market, with Bank of America emphasizing its role as a leader in employee compensation and benefits.
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Bank of America Increases Minimum Wage to $24, Aiming for $25 by 2025
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