Bank of America has raised its minimum hourly wage in the United States to $24, it said on Tuesday. The move brings the bank closer to its plan to reach a $25 minimum hourly wage by 2025, as it aims to attract and retain talent in a competitive job market. The second-largest U.S. lender has significantly increased its minimum hourly pay, raising it by 60% over the past seven years.
Today, Bank of America announced that it has raised its U.S. minimum hourly wage to $24 per hour, the latest step in the company's commitment to $25 by 2025. With the increase, the minimum annualized salary for full-time employees in the U.S. will rise to nearly $50,000. The increase applies to all full-time and part-time hourly positions in the U.S.
We recently compiled a list of the 7 Best Bank Stocks To Buy in 2024. In this article, we are going to take a look at where Bank Of America Corporation (NYSE:BAC) stands against the other bank stocks. The largest dip since August occurred in U.S. stocks on September 4, 2024, when the market fell 1.6%. […]