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Bank of America has announced a $1 USD hourly wage raise for workers in the U.S., bringing the minimum hourly wage up to $24 USD. BoA’s wage increase in 2024 takes the bank one step closer to its ambitions to raise wages to $25 USD by 2025. The company has been on track to establish a competitive offer that can help with the retention of workers and attract talent to the organization over competition.
As the second-largest U.S. lender, the bank has an extensive network of customers who rely on the company’s services, and effective workers are essential to keep