Bank of America Corp. (BAC) announced Wednesday it has raised its U.S. minimum hourly wage to $25 per hour. With the increase, the minimum annualized salary for full-time employees in the U.S. will rise to more than $50,000.
The increase, which goes into effect in early October, applies to all full-time and part-time hourly positions in the U.S., affecting thousands of employees across the nation.
The move will help fuel growth of the American economy and create job opportunities that strengthen the communities the company serves.
As a further investment in the team, 97% of Bank of America employees have received awards beyond regular compensation, mostly in the form of Bank of America restricted common stock. Nearly $5.8 billion has been awarded since the program's inception in 2017.
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January 09, 2026 15:02 ET U.S. external trade data and labor market figures were in focus this week as the news flow gained momentum in the new year. In Europe, inflation data for the euro area was the highlight. The single-currency bloc expanded to 21 countries this year with Bulgaria adopting the currency on January 1. News flow in Asia was dominated by the survey data on the Chinese services industry.