HelpWanted.com

Bank of America raises minimum wage to $21 per hour

Bank of America raises minimum wage to $21 per hour

Bank of America is now paying their US workforce, which is nearly three times the federal minimum wage of $7.25 which has not changed in dozens of years even when the majority of Americans support an increase in pay. The announcement of the pay hike came on Wednesday after Bank of America's pledge to pay its workers a minimum hourly wage of $25 by 2025. The pay hike by the Bank of America will impact a large number of  174,000 workers in the US and continues the trajectory of pay hikes with the bank raising the minimum wage to $15 in 2017, $17 in 2019 and $20 last year. If the bank reaches its goal by 2025, it will have raised its pay by nearly $14 or more than 120% since 2010.

Sheri Bronstein, the chief human resources officer at the bank said that the dollar-an-hour increase is part of an effort to attract "attract and develop talented teammates". She also added that the bank's decision would hopefully inspire others to do the same as well. JPMorgan Chase, the biggest bank in the US pays its employees a minimum of $16.50 to $20 per hour and Wells Fargo pays between $15 and $20. The new minimum wage by the Bank of America means that its workers now make $43,680 a year, with benefits. 

Source: CBS News 


Tags In
Beauty Industry

Previous days news

Oct 8 Oct 7 Oct 6 Oct 5 Oct 4

You might also like

Best tech jobs in the United States : BLS data

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Others news
Category
Tags
Industrial Workers Energy Transition Jobs Post-lockdown SC Gujarat Police Remote Workers Gaming Industry India Indian AirForce Human Resources NRRB Haryana Health Dept Drone Technology Political Parties PMI Job Market In 2021 HCL Deceased Employee HDFC PhonePe Workforce MSMEs Unemployment In Punjab MGCU Initiative Doctor Posts Attrition Rate Zomato Rajouri Jobs IBM Fake Employment Agents Work From Home Worker Death Job Portals Work SBI Concentrix Corporation New Jobs Rural India Workforce Chinese Capgemini Police CII Indian Job Sector Kolkata AIS Education Jobs Digital Media Hiring IndiGo Job Frauds Unemployment In Harayana
Articles

With Remote Working Being the New Norm, How to Hire the Best remote Workers

Before the advent of the COVID-19 pandemic, about 7 million people in the US alone were working rem ...Read more

Don’t Fall Prey to These Job Scams

When people are looking frantically for employment, scammers get a chance to exploit their weakness ...Read more

Tips to Write Job Descriptions That Will Attract the Best Candidates

Just as the candidates need the right jobs to secure their future, the companies also need the righ ...Read more

How to Avoid Burnout in 2022

Whatever your work setting may be, it’s important to stay productive while you don’t burn out. Here ...Read more