Bank of America Raises Minimum Hourly Wage to $24

 Bank of America is set to raise its minimum hourly wage to $24 starting next month, marking a significant step toward its goal of reaching $25 per hour by 2025. This wage increase is part of the bank’s ongoing efforts to remain competitive in the job market and foster a supportive work environment. With this change, Bank of America continues to lead by example in offering a strong compensation package, according to Sheri Bronstein, the company’s chief human resources officer.

This wage hike has become a regular occurrence for Bank of America, reflecting a steady pattern of increases over the last few years. Back in October 2021, the bank raised its minimum wage to $21 per hour, followed by increases to $22 in May 2022 and $23 last October. This gradual upward trend started with a minimum wage of $15 in 2017. The bank initially set a goal to pay $20 per hour by 2021 but achieved that target a year early. Since then, the bank has worked toward its next milestone of $25 per hour, which would represent a 121% increase from its minimum wage in 2010.

For more details please visit our website - https://www.hroutlook.com/2024/09/13/bank-of-america-raises-minimum-hourly-wage-to-24/




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