Bank of America Boosts US Minimum Wage to $25/Hour, Minimum Annual Salary to $50,000+

Bank of America has raised its U.S. minimum hourly wage to $25 per hour, effective October, affecting thousands of employees. The minimum annualized salary for full-time employees will now be over $50,000. The move aims to fuel the American economy and create job opportunities. Bank of America has also awarded nearly $5.8 billion in stock to 97% of its employees since 2017.