Bank of America Raises Minimum Wage to $23 an Hour

Bank of America has announced that it will raise its minimum hourly wage to $23, starting in October. This increase will make the minimum annual salary for full-time employees nearly $48,000. The bank has been gradually increasing its minimum wage over the past few years and aims to reach $25 by 2025. Bank of America believes that having a competitive minimum rate of pay is essential to being a great place to work and attracting talented employees.