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Old 04-09-2019, 10:24 AM   #1
 
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Default BOA raising min wage to $20/hr by 2021

In other news, BOA announces 80% automation in all their banks (just kidding about that part)

https://www.cnbc.com/2019/04/09/bank...0-an-hour.html


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Bank of America is raising the minimum wage for employees this year and plans to hike it to $20 an hour in two years.

"If you get a job at Bank of America, you'll make $41,000" a year, Chairman and CEO Brian Moynihan told MSNBC on Tuesday. "With the success our company has ... we have to share that success with our teammates."

Starting May 1, the hourly minimum wage will rise to $17 and will go higher in increments for the next two years, the Charlotte, North Carolina-based company said Tuesday in a statement. The bank has also frozen health-care cost increases for lower-paid employees, Moynihan said on MSNBC.
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Old 04-09-2019, 10:28 AM   #2
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I agree with companies voluntarily increasing their minimum wage as they can afford. I'm not for the government stepping in and doing it for them. I read another article that said they were passing on the tax savings generated by Trump's cuts.
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Old 04-09-2019, 10:42 AM   #3
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Yet at my local BOA bank, they took out the drive through, and only have 1 or 2 tellers there, and no personal bankers, so if you need to talk to someone other than a deposit / withdraw you need to make an appointment or go to a different location.
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Old 04-09-2019, 12:26 PM   #4
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I'd also add that I bet many of those jobs they're doing it on, while probably still entry level roles within the organization, require some form of specialty training or education to do vs. "would like like fries with that big mac?" type roles.
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Old 04-09-2019, 01:10 PM   #5
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Raise min wage and slash work force. Yup.
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