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Bank of America raises minimum hourly pay to $24, as tellers flee the industry

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Bank of America will pay hourly workers at least $24 per hour — a big jump from early 2019, when it paid $15 per hour. It has launched a series of pay raises as the industry struggles to fill bank teller jobs.

A Bank of America branch in Manhattan. The country's second-largest bank is increasing the wages of its lowest-paid workers, who will start earning at least $24 per hour in October.

Bank of America is pledging to pay its bank tellers and other hourly workers at least $24 per hour starting in October. The company says that this pay raise, from $23 per hour currently, will affect “thousands” of its 212,000 employees. The wage increase will particularly affect tellers and other customer-facing employees, such as call-center workers.their starting pay for hourly workers in the past few years, in part due to the difficulty of attracting workers to these relatively unglamorous and non-remote-friendly jobs. The U.S.

Yet this latest increase also underscores the vast income disparities across the financial industry, between the hourly retail workers who deal with customers and the

 

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Bank of America raises minimum hourly pay to $24, as tellers flee the industryBank of America will pay hourly workers at least $24 per hour — a big jump from early 2019, when it paid $15 per hour. It has launched a series of pay raises as the industry struggles to fill bank teller jobs.
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