Financial institution of America to hike minimal wage to $20 per hour a 12 months early

Bank of America determined to maneuver up a rise within the firm’s minimal to early 2020 from 2021.

The corporate introduced Monday that its employees will earn a minimal of $20 per hour beginning by the tip of subsequent 12 months’s first quarter.

Financial institution of America’s choice to maneuver up the wage hike is “a part of the corporate’s dedication to delivering sustainable, accountable progress by being a terrific place to work,” in line with an announcement.

Financial institution of America had introduced on April 9 the minimal wage hike to $20 per hour would take place in two years. The corporate additionally raised its minimal wage earlier this 12 months to $17 per hour from $15 per hour.

The financial institution’s transfer comes because the minimal wage has turn into a hot-button concern in Washington. In July, the Home handed a invoice to boost the federal minimal wage to $15 per hour.

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