Bank of America raises minimum hourly pay to $24 in October, impacting 212,000 employees.

Bank of America will raise its minimum hourly pay to $24 starting in October, impacting thousands of its 212,000 employees, including tellers and call-center workers. This increase follows a trend among banks to attract talent, as the U.S. Bureau of Labor Statistics projects a need for 27,000 new tellers annually for the next decade. Since 2019, the bank has gradually raised wages and aims for $25 per hour by next year, highlighting income disparities in the financial sector.

September 10, 2024
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