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Bank of America Raises Minimum Hourly Wage to $25
Bank of America raises minimum wage to $25 per hour, fulfilling its 2021 pledge and increasing starting salaries by over $20,000 since 2017 to support employee retention.
- Bank of America revealed on Wednesday that starting in early October 2025, it will raise its lowest hourly pay rate in the U.S. to $25.
- This wage increase completes a long-term goal set several years ago to steadily raise pay from under $15 per hour in 2017 to $25.
- The bank, headquartered in Charlotte, employs 5,290 people in Atlanta with 104 financial centers affected by the increase impacting thousands nationwide.
- Brian Moynihan said competitive compensation supports economic growth, helps teammates build long careers, and improves client service, while the wage increase yields annual salaries over $50,000 for full-time workers.
- The pay hike follows several raises since 2017 totaling over $20,000 in increased starting salary and accompanies the bank's plan to expand hiring and employee development.
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WSOC-TVBank of America raises minimum hourly wage to $25
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Coverage Details
Total News Sources14
Leaning Left3Leaning Right1Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 30%
C 60%
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