Bank of America pushes minimum wage to $25 an hour

Bank of America pays its workers a lot more than America does.

At least in its minimum wage. 

The Charlotte-based national bank giant, with $3.44 trillion in assets through June 30, made some news last week in announcing it’s raising its minimum wage to $25 an hour. The raise, which goes into effect in early October, the bank says, will push the minimum annualized salary for full-time employees to more than $50,000. The hourly salary is also 244% more than the federal minimum wage of $7.25 an hour and nearly 80% more than Florida’s minimum wage of $14 an hour. The bank has now increased its minimum hourly pay by nearly 67% since 2018, according to Reuters.