Bank of America bumps up minimum wage to $20 an hour

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Bank of America Corp. said Monday it is raising the U.S. minimum wage for hourly employees to $20 from $17, by the end of the first quarter of 2020. Since 2010, the bank has now increased its minimum wage by more than $8 an hour. "As part of our commitment to being a great place to work, we are saying thank you, and sharing our success with our teammates who serve our clients and communities every day," said Chief Human Resources Officer Sheri Bronstein. The stock rallied 1.4% in premarket trading. It has run up 29.1% year to date through Friday, while the SPDR Financial Select Sector ETF has advanced 22.3% and the Dow Jones Industrial Average has gained 17.2%.

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They had to no one wants to work for them. Stiff competition.

Oh no can’t have that bunch of bs

Now if only other highly profitable Fortune 500 companies would do the same

JCuff10 Yes .... and what the Liberals won't acknowledge is that to work for BOA, you better not have 'taken space' in HS! Also, BOA hires out their Lawn Care/cleaning services requirements, thus there's no $20hr cleaning people ... sorry Liberals, keep dreaming!!!

and US Bank is firing half the people in their branches so kudos to BofA

Oh my God, the sky is going to fall, everything will stop working, the economy is going to crash, markets will close, there will be looters and beggars flooding the streets, we can’t afford to pay people such huge amounts of cash. Only billionaire & millionaire CEOs deserve this.

Bank of America bumps up ITS minimum wage. Words matter. Also, free market wins again.

cc neelkashkari

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