Bank of America bumps its minimum wage again on the way to $25 an hour

Bank of America is bumping its minimum hourly wage to $21, taking another step toward a goal of paying $25 by 2025.The move, announced Wednesday, nudges pay up from $20, a level the firm had enacted last year ahead of schedule. A $21 wage translates to a full-time annualized salary of $43,680. It extends a series of hikes lifting the firm’s base pay from $15 in 2017.Read more: Bank of America doubles goal of hiring 10,000 workers from low-income areas’Responsible growth requires that we provide a great place to work,’ Sheri Bronstein, who oversees human resources at the Charlotte, North Carolina-based lender, said in a statement.

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