BofA Raises Minimum Hourly Wage to $25

CHARLOTTE, NC — Bank of America recently 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 takes effect in early October, applies to all full-time and part-time hourly positions in the U.S.

BofA currently has 410 employees in Sarasota/Manatee, where many new starting pay positions are based.  The company also offers 16 weeks of paid parental leave, a backup child and adult care program, as well as a reimbursement program for childcare expenses for eligible employees. 

Bank of America serves approximately 69 million consumer and small business clients through approximately 3,700 retail financial centers, approximately 15,000 ATMs, and operations across the United States, its territories, and more than 35 countries.