Bank of America raising hourly minimum wage to $20


Bank of America plans to raise its starting pay to $20 an hour over a two-year period, the bank said Tuesday, starting with a hike next month.
The company, with more than 200,000 workers, said it is raising its minimum hourly wage to $17 on May 1 and will continue to increase pay until it hits $20 an hour in 2021.
Bank of America raised its hourly minimum wage to $15 in 2017. “If you get a job at Bank of America, you’ll make $41,000 per year,” Chairman and CEO Brian Moynihan said during a television interview on MSNBC.
The timing of Bank of America’s announcement is no coincidence. Moynihan and the CEOs of JPMorgan Chase, Citigroup, Goldman Sachs and three other banks will appear in front of a House finance committee Wednesday in the most significant hearing on the banking industry since Democrats took control of the House earlier this year.

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