Financial institution of America to boost minimal wage to $23 an hour in October
A Financial institution of America monetary supervisor exhibits a buyer the best way to use the ATM with Teller Help station in Cherry Creek.
Andy Cross | Denver Submit | Getty Photos
Financial institution of America will increase its minimal hourly wage to $23 in October because it heads towards a aim of elevating hourly pay to $25 by 2025, the corporate stated in a press release Wednesday.
The pay bump interprets to a minimal wage of just about $48,000 a 12 months for full-time staff, based on the second largest U.S. lender.
BofA has elevated pay a number of occasions lately, beginning with a transfer to $15 an hour in 2017.
“Offering a aggressive minimal charge of pay is foundational,” Sheri Bronstein, the financial institution’s chief human assets officer stated within the assertion.
