BofA Bumps Its Minimum Wage Again on the Way to $25 an Hour
- The latest increase, to $21, keeps bank on track for 2025 goal
- Hikes in recent years have lifted base pay from $15 in 2017
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Bank of America Corp. is bumping its minimum hourly wage to $21, taking another step toward a goal of paying $25 by 2025.
The move, announced Wednesday, nudges pay up from $20, a level the firm had enacted last year ahead of schedule. A $21 wage translates to a full-time annualized salary of $43,680. It extends a series of hikes lifting the firm’s base pay from $15 in 2017.