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Bank of America has raised its hourly minimum wage once more.
The multinational investment bank announced Wednesday that its minimum wage workforce will be paid $21 per hour in the U.S.
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The wage increase is a part of the financial institution’s publicized $25 by 2025 campaign and is a dollar more than the minimum hourly wage Bank of America set for its workers in 2020.
Bank of America began raising wages in 2017, which upped its minimum pay to $15 per hour. Two years later, the company raised its hourly minimum wage to $17.
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"Our company's focus on Responsible Growth requires that we provide a great place to work," said Bank of America’s Chief Human Resources Officer Sheri Bronstein, in a statement.
"We make broad-ranging investments to attract and develop talented teammates who serve our clients and local communities every day, and who can build long, successful careers with our company," she added. "Today, we are taking another step forward, again increasing our minimum rate of pay for U.S. employees, demonstrating our commitment to sharing our success with teammates, and inspiring others to do the same."