Bank of America raises minimum wage to $25

By SDCN Staff

Charlotte, NC–Bank of America announced it has raised its U.S. minimum hourly wage to $25 per hour. With the increase, the minimum annualized salary for full-time employees in the U.S. will rise to more than $50,000.

The increase, which goes into effect in early October, applies to all full-time and part-time hourly positions in the U.S., affecting thousands of employees across the nation and helping to fuel the growth of the American economy and create job opportunities that strengthen the communities the company serves.

This is the company’s latest move, after steadily increasing over the last several years, from under $15 per hour to $25 per hour. With the increase, the starting salary for full-time employees at the bank will have gone up by more than $20,000 since 2017