Bank of America (BAC) – Get Report said Tuesday that it was raising its minimum wage to $25 an hour, joining the raft of major companies that have recently boosted their starting pay.
The Charlotte financial-services giant in March 2020 had lifted its minimum wage to $20 an hour from $17.
Bank of America also said on Tuesday that all its U.S. vendors are now required to pay their employees dedicated to the bank at least $15 per hour.