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Bank of America has raised wages for its US hourly workers to $24.
The new rates, announced by the North Carolina-based bank on Tuesday, represent a $1 hourly pay increase for all full-time and part-time hourly Bank of America workers in the U.S.
The minimum hourly wage for these jobs has been $23 since October last year.
A Bank of America branch in New York on July 10, 2024. (Michael Nagle/Bloomberg via Getty Images/Getty Images)
“We've found that paying competitive wages and offering great benefits attracts the best talent, and with the best talent, they can do the best work for our customers, clients and communities,” said Chief Human Resources Officer Sheri Bronstein. “But we're not just focused on attracting talent. We want to be a great place to work in every way.”
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The wage increase is tied to Bank of America's long-standing commitment to a $25 hourly minimum wage by 2025.
