Bank of America Raises U.S. Minimum Hourly Wage to $24, Starting in October

Sep 10, 2024, 11:00 AM

Bank of America has announced an increase in its minimum hourly wage in the United States to $24, starting next month. This wage hike applies to all full-time and part-time hourly positions, including bank tellers and call center workers. The move brings the annualized salary for full-time employees to nearly $50,000. This initiative is part of the bank's long-term plan to raise its minimum hourly wage to $25 by 2025, a goal set seven years ago. The second largest bank in America aims to attract and retain talent through this wage increase, which will start in October and is up from the previous $23 per hour.