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. Joining the bank at the minimum wage is a launchpad for a long-term career. From onboarding and professional development to tuition assistance and career mobility, the company is committed to a workplace where every teammate has the opportunity to grow and succeed. Through an ongoing investment in skills-based training and a culture rooted in opportunity, many teammates who started their careers at a minimum wage salary rise to roles where they lead, mentor, provide for their families and give back to their communities. For more information, visit www.bankofamerica.com.

Photo Credit: Bank of America