Bank of America Is Raising Its Minimum Wage Again – Here’s Why

Kennardo G. James
Bank of America is raising the minimum wage once again. Read more to find out why!Photo byJavier Haro/Unsplash

On Wednesday, September 20, 2023, Bank of America made a major announcement that most likely made a lot of its employees happy. According to an article published by The Charlotte Observer, the NC-based bank plans on raising its minimum wage.

According to the article, the minimum hourly pay rate will go up to $23 next month. However, Bank of America doesn't plan on stopping there - it plans to increase the hourly pay rate to $25 by 2025.

Sheri Bronstein, the chief human resources officer at Bank of America, released a statement saying, "Providing a competitive minimum rate of pay is foundational to being a great place to work". The minimum wage in NC is currently $7.25 per hour.

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My name is Kennardo "Greg" James and I started writing news based stories in January 2022. I will deliver news that you need to be aware of with an unbiased lens and bring attention to things that need awareness.

Myrtle Beach, SC

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