Payments

Bank of America raises minimum wage to $25 an hour

Photo: DW labs Incorporated - stock.adobe.com

September 19, 2025

Bank of America has raised its minimum wage to $25 an hour, putting the minimum salary for all full-time employees at more than $50,000. The increase is for all part-time employees as well, according to a press release.

The bank has been gradually increasing its minimum wage since first raising it to $15 in 2018. It also provides additional compensation such as restricted common stock, which gave nearly $5.8 billion since 2017.

"Our strong and rising minimum starting salary provides opportunities for our teammates to build a long-term career at Bank of America," Sheri Bronstein, chief people officer, Bank of America, said in the release. "Competitive compensation is one of the many ways we are helping to drive American economic growth and opportunity."

Other benefits include:

• No-cost wellness visits with healthcare plan.
• Child and adult care programs.
• 26 weeks of parental leave.