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Bank of America: set to increase employees' minimum wage

( - Bank of America announced on Tuesday that it gradually intends to increase its internal minimum wage over a period of two years, bringing it to 17 dollars per hour on 1 May this year, followed by 20 dollars in 2021.

The bank explains that, “This is part of the company's commitment to being a great place to work and delivering sustainable, responsible growth through competitive benefits and programs that support the diverse needs of its 205,000+ employees.”

The bank boasts a leading role in its sector in terms of the internal minimum wage for all its employees in the US, pointing out that this has been increased by over four dollars per hour since 2010.

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