Bank of America Raises Minimum Wage to $24 per Hour for US Workers

The second-largest bank in the nation is aiming to reach a minimum wage of $25 per hour by 2025.

FA customer uses an ATM at a Bank of America branch in Boston, Mass., on Oct. 11, 2017. Brian Snyder/Reuters

Bank of America announced on Tuesday that it has raised its minimum wage in the United States to $24 per hour.

The raise will apply to both full-time and part-time workers in the United States, the bank said in a statement. This is an increase from the bank’s hourly pay of $23, which it had set in September last year.