Delaware will see a major impact from Bank of America’s latest wage increase. The company, which employs 6,060 workers across the state and operates six financial centers, announced it is raising its U.S. minimum hourly wage to $25 per hour. That means starting salaries for full-time employees in Delaware and nationwide will now exceed $50,000 annually.
The increase, effective in early October, fulfills Bank of America’s pledge to hit $25 by 2025 and affects thousands of full-time and part-time hourly workers across the country.
A National Leader in Pay and Benefits
Bank of America has steadily raised its minimum wage from under $15 in 2017 to $25 today, an increase of more than $20,000 in annual salary. The company says entry-level jobs are designed as launchpads for long-term careers, with access to tuition assistance, professional development, and career mobility.
Employees also benefit from industry-leading perks including paid parental leave, sabbatical opportunities, child and adult care support, comprehensive health coverage, and stock awards totaling nearly $5.8 billion since 2017.
Recognized as a Top Employer
Bank of America has been named to Fortune’s 100 Best Companies to Work For seven years in a row, as well as LinkedIn’s Top Companies list and People Magazine’s 100 Companies That Care.
With its expanded wage floor and strong benefits, Bank of America continues to stand out as one of Delaware’s and the nation’s leading employers.
