Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
Bank of America to Raise Minimum Wage to $25 Per Hour in Race for Talent
Posted
May 18, 2021
Views
1,012
Likes
22
Comments
72
Engagement
May 18, 2021
1,012
22
72
9.29%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
0:55Now PlayingBank of America Corp. will boost its minimum hourly wage to $25 an hour by 2025 from a current $20, according to its Chief Executive Officer Brian Moynihan.
The move follows four years of pay increases that brought the company’s minimum wage to an hourly $20 in 2020 from $15. The Charlotte, North Carolina-based lender will also require its U.S. vendors to pay employees dedicated to the bank $15 per hour or more, Moynihan announced in an interview on CNN. Of more than 2,000 vendors with 43,000 employees, over 99% meet that threshold, the bank said in a separate 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,” said Sheri Bronstein, chief human resources officer at Bank of America, said in the 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.”
Subscribe to our YouTube channel
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
