If Bank of America reaches its $25-per-hour target on time, it will have bumped up its minimum wage by nearly $14, an hour since 2010, the bank said.
Wednesday’s raise, effective date undisclosed, marks Bank of America’s first minimum compensation boost since the first quarter of 2020, when it raised its bottom hourly wage to $20 a year ahead of schedule. The bank previously raised its minimum hourly wage to $17 in 2019 and to $15 in 2017.
