Bank of America announced it has raised its U.S minimum hourly wage to $22 as a next step in the company’s plans to increase to $25 by 2025.
This builds on the company’s history of being a national leader in establishing a minimum rate of pay for its hourly employees. In the last five years, Bank of America raised the minimum hourly wage to $15 in 2017; in 2019 it rose to $17; in 2020, to $20 – and in October 2021, to $21. The company’s increase to paying $22 per hour, effective end of June, will increase annualized salary for full-time employees to more than $45,000.
For more information, visit www.bankofamerica.com
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