![[US] Bank of America increases minimum hourly wage to $24](http://gpa.net/cdn/shop/articles/bigstock-people-withdrawal-saving-and-166961747_1200x.jpg?v=1726197378)
Bank of America has announced an increase in its minimum hourly wage in the US, taking the rate to $24, Reuters reports.
The hike is a step towards the bank’s 2021 pledge to reach a $25 minimum hourly wage by 2025, as it seeks to attract and retain talent in a competitive job market.
Bank of America is reportedly the nation’s second-largest lender. It has significantly increased its minimum hourly pay over the past seven years; raising it by 60 per cent. Before the latest rise, the minimum wage stood at $23 per hour.
"Providing a competitive minimum wage is core to being a great place to work, and I am proud that Bank of America is leading by example," Sheri Bronstein - Bank of America’s chief human resources officer - told Reuters.
Full-time US employees will now have a minimum annualised salary of $50,000, rising from $48,000.
Source: Reuters
(Quote via original reporting)
Bank of America has announced an increase in its minimum hourly wage in the US, taking the rate to $24, Reuters reports.
The hike is a step towards the bank’s 2021 pledge to reach a $25 minimum hourly wage by 2025, as it seeks to attract and retain talent in a competitive job market.
Bank of America is reportedly the nation’s second-largest lender. It has significantly increased its minimum hourly pay over the past seven years; raising it by 60 per cent. Before the latest rise, the minimum wage stood at $23 per hour.
"Providing a competitive minimum wage is core to being a great place to work, and I am proud that Bank of America is leading by example," Sheri Bronstein - Bank of America’s chief human resources officer - told Reuters.
Full-time US employees will now have a minimum annualised salary of $50,000, rising from $48,000.
Source: Reuters
(Quote via original reporting)