Bank of America Boosts U.S. Minimum Wage to $24 an Hour, Full-Time Workers Now Earn $50K Annually
Portfolio Pulse from Benzinga Newsdesk
Bank of America has increased its U.S. minimum hourly wage to $24, aiming for $25 by 2025. This raises the minimum annual salary for full-time employees to nearly $50,000.
September 10, 2024 | 9:57 am
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Bank of America has increased its U.S. minimum wage to $24 per hour, with a goal of $25 by 2025. This move raises the minimum annual salary for full-time employees to nearly $50,000.
The wage increase reflects Bank of America's commitment to employee welfare, which may enhance its corporate image and employee satisfaction. However, the immediate financial impact on the company's stock price is likely neutral as the cost increase is part of a planned strategy.
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