Bank of America Raises Minimum Wage to $24 per Hour for US Workers

Bank of America announced on Tuesday that it has raised its minimum wage in the United States to $24 per hour. [EFFECTIVE NOW?] The raise will apply to both full-time and part-time workers in the United States, the bank said in a statement. This is an increase from the bank’s hourly pay of $23, which it had set in September last year. The bank said the latest raise will bring the minimum annual salary for full-time workers to nearly 50,000. The company did not specify how many workers will benefit from the raise. Bank of America, the second-largest bank in the nation, aimed to reach a minimum wage of $25 per hour by 2025. The bank began increasing its minimum hourly pay seven years ago, starting from $15....