Bank of America is hiking its minimum wage. Employees at the bank will make an hourly wage of at least $17 starting May 1, and $20 within two years.
Bank of America Merrill Lynch is hiking its minimum wage, and by 2021 all employees will earn at least $20 an hour, the bank announced Tuesday.
Starting May 1, the minimum wage at the bank will increase to $17 an hour. It will increase in increments over the next two years until it hits an hourly wage of $20, the bank said in a statement. "We are raising our minimum wage because we believe that to best serve our customers and clients, we need the best teams," Sheri Bronstein, chief human resources officer at Bank of America, said in the statement."Saying thank you, celebrating great work, and sharing our success further demonstrate our commitment to being a great place to work."Bank of America employs more than 205,000 workers globally.
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