BofA Raises U.S. Minimum Hourly Wage to $25, Increasing Starting Salary to More Than $50K

Bank of America today announced it is raising its U.S. minimum hourly wage again–helping to create job opportunities and fuel the American economy.

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Details by the Numbers:

• The company will raise its U.S. minimum hourly wage to $25.
• This increases the minimum full-time starting salary to more than $50k/year.
• It will affect thousands of employees, helping to fuel the growth of the American economy & create job opportunities that strengthen the communities the bank serves.
• Joining the bank at the minimum wage is a launchpad for a long-term career.
• Since 2017, the starting salary for full-time U.S. employees has gone up by more than $20k.
• This is the company’s latest move, after steadily increasing over the last several years, from under $15 per hour to $25 per hour.
• The bank is a national leader in establishing a competitive minimum rate of pay for U.S. hourly employees.
• The increase applies to all full-time and part-time hourly positions in the U.S.
• It goes into effect in early October. 
• BofA currently has 2,440 employees and more than 110 financial centers in Houston, where many new starting pay positions are based.
• Texas follows the federal minimum wage of $7.25 per hour.

[Photo: Instagram]