KGUN 9 On Your SideNewsLocal News

Actions

Bank of America plans to raise starting pay to $25 an hour

5 big banks get 'F' grades for crisis planning
Posted at 12:33 PM, May 18, 2021
and last updated 2021-05-18 15:34:16-04

TUCSON, Ariz. (KGUN) — Bank of America will raise its U.S. starting pay to $25 an hour by 2025, the company announced Tuesday.

The bank has 260 employees in Pima County, and 9,070 in Arizona.

Last year, the bank raised its starting pay to $20 an hour.

“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,” said Sheri Bronstein, chief human resources officer at Bank of America, in a statement. “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.”

The bank will also require its vendors to pay employees dedicated to the bank $15 or more.

For more information, click here.