Sign in to your Online Banking account by entering your Online ID. 130 county workers get raises with new $15 minimum wage National companies such as Bank of America, Wells Fargo and and J.P Morgan have also awarded bonuses to employees. Bank of America today announced that it will raise its minimum wage to $20 per hour over a two-year period. Liz Wright, Bank of America Learn more. 28 Bank of America jobs available in Pennington, NJ on Indeed.com. Certain links may direct you away from Bank of America to an unaffiliated site. CHARLOTTE, N.C. -- Bank of America is raising its starting pay to $20 an hour over a two-year period, starting with a hike next month. Our site uses technology such as cookies so that we can remember you and understand how you use our site. On May 1, 2019, the minimum hourly wage will increase to $17, and will continue to rise until it reaches $20 in 2021. Bank of America, just one week after the massive outage to its system decided to create a diversion, and do two things: Give everyone a $1000 bonus, and raise their minimum wage to $20 a full year earlier than anticipated...2020. “Across the company, we believe that being a great place to work is core to our ability to grow sustainably, as we continue to drive responsible growth.”. All rights reserved. April 9 (Reuters) - Bank of America Corp said on Tuesday it would raise its minimum wage to $20 per hour over a two-year period. Bank of America today announced that it will raise its minimum wage to $20 per hour over a two-year period. Updated 2101 GMT (0501 HKT) November 4, 2019. For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts. Part of the changes will go into effect May 1, when the bank increases its minimum wage to $17 an hour. © 2020 Bank of America Corporation. Its efforts have been recognized by a number of external organizations including LinkedIn, Catalyst and Fortune, most recently as the only financial services company included in Fortune’s “Best Big Companies to Work For” list for the second consecutive year. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Here's why, The Rockefeller Foundation -- founded on oil money -- is dropping fossil fuels, Disney workers used to make magic, now they struggle to make ends meet, See Walmart's self-driving delivery trucks in action, These restaurant owners don't know how long they can hang on, This vegan restaurant is actually opening locations during the pandemic. CHARLOTTE, N.C. -- Bank of America is raising its starting pay to $20 an hour over a two-year period, starting with a hike next month. and U.S. Trust Company of Delaware. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Before acting on any information in this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Reporters May Contact: All rights reserved. Bank of America’s pay-for-performance philosophy reinforces the company’s core values and culture by inspiring employees to do great work, encouraging and retaining talent, and building trust within teams. Available to U.S-based Bank of America … The first increment to $17 was made in May 2019; six months later, the company announced it would accelerate the move to $20 by a year; and in March this year, Bank of America made this change. elizabeth.i.wright@bofa.com. But the company says it will implement the $20 an … The increase will occur in increments. The boost will bring Bank of America's minimum wage … Continued use of this site indicates your consent to our use of cookies. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. In October, the unemployment rate came in at 3.6%, remaining near a 50-year low. Bank of America (BAC) said Monday it would raise its minimum wage for its more than 208,000 US employees by the end of the first quarter of 2020. Bank of America said it is raising the minimum wage so it hits $20 an hour in 2021. Disclaimer. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Bank of America raising hourly minimum wage to $20. The push for a $15 minimum wage notched a big win through President-elect Joe Biden's victory, but it's unclear if his administration will be able to pass a new federal minimum wage… Since 2010, the company’s minimum hourly wage has increased by more than 77% (nearly $9 per hour) – three years ago, Bank of America raised it to $15; in 2019, it rose to $17; and today, it is $20. © 2020 Bank of America Corporation. Bank of America, N.A. Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Most stock quote data provided by BATS. That's why Bank of America is raising its minimum wage to $20 an hour in 2020 — a year earlier than expected. All rights reserved. All times are ET. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Bank of America – Half of U.S. states will raise their minimum wage in 2021 December 30, 2020 BofA – Bank of America (BAC) price Near $30.00; in an Uptrend Over Past 14 Days Bank of America plans to raise its starting pay to $20 an hour over a two-year period, the bank said Tuesday, starting with a hike next month. Of those 1.2 million workers, approximately 107,000 are workers under 20 years of age, representing an overwhelming majority—9 out of 10—of all teen workers in the state. The increase will occur in increments. NASHVILLE, Tenn. (WZTV) — Financial giant Bank of America is raising its minimum wage to $20 an hour, the CEO told MSNBC on Tuesday. Content contained herein may have been produced by an outside party that is not affiliated with Bank of America or any of its affiliates (Bank of America). 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