BofA Raises U.S. Minimum Hourly Wage to $24, Increasing Starting Salary to Nearly $50K

As a further investment in the team, 97% of Bank of America employees have received awards beyond regular compensation, mostly in the form of Bank of America restricted common stock. More than $4.8 billion has been awarded since the program was introduced in 2017.

Bank of America also offers industry-leading benefits and employee programs for all. Additional benefits include, but are not limited to:

• 16 weeks of paid parental leave
• An industry-leading sabbatical program
• Personalized support for employees navigating critical life events through our Life Event Services Team

To help employees learn new skills and advance in their careers, Bank of America offers an award-winning onboarding, education and professional development organization called The Academy at Bank of America. Building on this employee resource, The Academy also provides free education to individuals in local communities to help advance their career growth and success.

Bank of America's leadership as a global employer has been recognized by many external organizations, including JUST Capital as a Top Company for Workers, LinkedIn's "Top Companies in the U.S.", Fortune's "100 Best Companies to Work For" list for the sixth consecutive year, and People Magazine's "100 Companies That Care." This recognition is a reflection of Bank of America's continuous focus on providing a Great Place to Work for all teammates.

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

Eliza Murphy, Bank of America
Phone: 1.347.603.6845
[email protected]