Bank of America Raises U.S. Minimum Hourly Wage to $24 Next Month

Sep 10, 2024, 10:02 AM

Bank of America has announced an increase in its minimum hourly wage for U.S. employees to $24, effective next month. This wage hike applies to all full-time and part-time hourly positions in the U.S. The move, announced on Tuesday, is part of the bank's ongoing commitment to reach a $25 minimum hourly wage by 2025, a goal set seven years ago. The increase will raise the starting salary to nearly $50,000 annually, as the bank aims to attract and retain talent.