CHARLOTTE, N.C. - As the debate continues in Washington over whether to raise the federal minimum wage to $15 an hour, Bank of America continues to far outpace the discussion.The nation’s second-largest bank announced on Tuesday it would raise its minimum wage to $25 an hour by 2025.
It’s the latest step in the trend that has seen the company’s minimum wage climb by 121% since 2010.Bank of America raised its minimum wage to $15 an hour in 2017.
Two years later, the bank again raised it to $17 an hour. Last year, it raised pay to $20 an hour, even though they weren’t expected to do so until this year, FOX Business reported.Pedestrians walk past a branch of Bank of America in New York City.