Bank of America raises minimum hourly wage to $23 on way to $25 by 2025
Bank of America is increasing its minimum hourly wage to $23 in October as part of its planned $25 minimum by 2025. Bank of America has been a leader in providing higher minimum hourly wages, having increased its minimum pay by nearly $14 per hour — or more than 121% — since 2010. This latest increase affects 9% of hourly US employees and 3.7% of all US employees. “Providing a competitive minimum pay rate is foundational to being a great place to work,” said Ashley Allen, president, Bank of America Amarillo. “Coupled with our industry-leading benefits, we can attract and develop talented teammates, investing in the long-term success of our employees, customers and communities.”
Read the news release here
