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Home Business Bank of America raises minimum wage for employees to $20 an hour

Bank of America raises minimum wage for employees to $20 an hour

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APRIL 9, 2019

Bank of America is raising the minimum wage for employees this year and plans to hike it to $20 an hour in two years.

“If you get a job at Bank of America, you’ll make $41,000,” the Chairman and CEO Brian Moynihan told MSNBC on Tuesday. “With the success our company has…we have to share that success with our teammates.”

Effective on May 1, the minimum wage will be raised to $17 and will go higher in increments for the next two years, according to a release from the company.

Bank of America employs 205,000 people.