By Will Feuer

 

Bank of America Corp. said it has raised its U.S. minimum hourly wage to $22 an hour, increasing annualized salary for full-time employees to more than $45,000.

The Charlotte, N.C., bank said the move is a step toward raising its U.S. minimum wage to $25 an hour by 2025.

"Our focus on being a great place to work is core to everything we do and underscores the role our teammates play in our success," Chief Human Resources Officer Sheri Bronstein said.

 

Write to Will Feuer at Will.Feuer@wsj.com

 

(END) Dow Jones Newswires

May 23, 2022 07:22 ET (11:22 GMT)

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