(AP) — Bank of America is raising its starting pay to $20 an hour over a two-year period, starting with a hike next month.
The company said it is raising its minimum hourly wage to $17 on May 1 and will continue to increase pay until it hits $20 an hour in 2021. Bank of America raised its hourly minimum wage to $15 in 2017. It says wages have increased since then, though it didn’t release details of those increases.READ MORE: Chicago Weather: Spotty Showers Sunday Night, Monday
In a Tuesday interview on MSNBC, Chairman and CEO Brian Moynihan said, “”If you get a job at Bank of America, you’ll make $41,000 per year.”READ MORE: Phase 2 Opens Monday In Illinois Outside Chicago For Anyone 16 And Over To Get COVID-19 Vaccine, But Teens Under 18 Face Challenge
Bank of America Corp., based in Charlotte, North Carolina, has more than 205,000 workers.MORE NEWS: On One-Year Anniversary Of Botched Smokestack Demolition, Little Village Community Leaders Call For Jobs, Better Environmental Protection
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