LOUISVILLE, Ky. — Bank of America announced Tuesday it's raising its United States minimum wage, which will impact many workers in Kentucky.
The banking giant is raising its hourly minimum wage for full-time and part-time workers in the U.S. to $24/hour.
“Providing a competitive minimum wage is core to being a great place to work -- and I am proud that Bank of America is leading by example,” said Sheri Bronstein, chief human resources officer.
The new minimum wage will positively affect some of the bank's 270 employees throughout The Commonwealth.
The wage increase will go into full effect in October and impact not only Kentucky employees, but employees nationwide.
This increase will bring Bank of America's minimum, full-time salary to nearly $50,000 per year.
Bank of America says it's the company's goal to reach $25 per hour minimum wage by 2025.
This marks the seventh consecutive year of wage increases for the bank's employees.
