BofA speeds up plan to boost minimum pay to $20 per hour

Nov. 04, 2019 9:28 AM ETBank of America Corporation (BAC)By: Liz Kiesche, SA News Editor23 Comments
  • Bank of America (NYSE:BAC) plans to boost its U.S. minimum hourly wage to $20 by the end of Q1 2020 vs. $17 currently, more than a year earlier than it originally planned.
  • Last week, BofA said it will extend special compensation awards to ~95% of its global workforce. Awards include cash bonuses and stock paid since 2017 totaling ~$1.6B, in addition to any other compensation employees received.
  • BAC rises 1.4% in premarket trading.
  • Previously: Bank of America increases minimum wage to $17/hour (May 15)

Recommended For You

Comments (23)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.