9-21-2025 7:50am

Bank of America Raising its U.S. Minimum Hourly Wage

Beth Callahan Editor

Bank of America's Minimum Wage Bar Chart

MAINEVILLE, OH -- Bank of America will be raising its U.S. minimum hourly wage to $25 per hour. With the increase, the minimum annualized salary for full-time employees in the U.S. will rise to more than $50,000. The increase, which goes into effect in early October, applies to all full-time and part-time hourly positions in the U.S., affecting thousands of employees across the nation and helping to fuel the growth of the American economy and create job opportunities that strengthen the communities the company serves.

Currently, BofA currently has 410 employees and 11 financial centers in the Cincinnati area, with one center located here in Warren County in Maineville. There is also one nearby in West Chester, Loveland and a new one being built at the former Verizon store across from the Dayton Mall. It will be its first financial center in Montgomery County, Ohio

A national leader

This is the company’s latest move, after steadily increasing over the last several years, from under $15 per hour to $25 per hour
It builds on the bank’s history of being a national leader in establishing a competitive minimum rate of pay for U.S. hourly employees
With the increase to $25, starting salary for full-time U.S. employees at the bank will have gone up by more than $20,000 since 2017

Joining the bank at the minimum wage is a launchpad for a long-term career. From onboarding and professional development to tuition assistance and career mobility, the company is committed to a workplace where every teammate has the opportunity to grow and succeed.

“Our strong and rising minimum starting salary provides opportunities for our teammates to build a long-term career at Bank of America,” said Sheri Bronstein, Chief People Officer, Bank of America. “Competitive compensation is one of the many ways we are helping to drive American economic growth and opportunity.”

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

An award-winning onboarding, education and professional development organization, The Academy
26 weeks of parental leave; 16 are fully paid
An industry-leading sabbatical program, offering 4-6 weeks of paid time off based on tenure
Back up child and adult care program, as well as for eligible teammates, a reimbursement program for childcare expenses
U.S. health plans include no-cost wellness visits, preventative medications, virtual care and onsite screenings
Personalized support for employees and their families navigating critical life events through our Life Event Services team

Through an ongoing investment in skills-based training and a culture rooted in opportunity, many teammates who started their careers at a minimum wage salary rise to roles where they lead, mentor, provide for their families and give back to their communities.

Bank of America’s leadership as a global employer of choice has been recognized by many external organizations, including LinkedIn’s Top Companies in the U.S., Fortune’s 100 Best Companies to Work For list for seven consecutive years and People Magazine’s 100 Companies That Care. These recognitions reflect Bank of America’s continuous focus on providing a Great Place to Work for all teammates.