Bank America found a way to get some positions that were open filled. Pay more than potential workers could make on unemployment.
BofA is setting a new minimum wage standard, announcing that they will be paying $25 per hour minimum starting in 2025.
While 2025 is a long way off, the bank already is paying employees who make minimum wage $20 bucks per hour, having bumped it when the pandemic began last March.
Raising wages is something BofA has done a good job of for over a decade, as they pointed out in their announcement Tuesday that their hourly wage minimum has skyrocketed 121% since 2010.
The bank’s chief human resources officer Sheri Bronstein gave her employers some props in a statement.
“A core tenet of responsible growth is our commitment to being a great place to work which means investing in the people who serve our clients. That includes providing strong pay and competitive benefits to help them and their families so that we continue to attract and retain the best talent.”
So, if you are a BofA customer, the next time you get hit up with a $30 overdraft notice, you can take solace in knowing that it paid more than one full hour of wages to an employee.