Bank of America is raising its minimum wage for employees to $20

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. Since income inequality is a hot-button issue ahead of the 2020 election, raising wages for the lowest-paid bank workers may insulate Moynihan from criticism about the gap between branch tellers and the company’s highest-paid employees.

Source: www.cnbc.com