Posted 9/20/2023, 3:28:44 PM

Bank of America Raising Minimum Wage to $23/hr in October as Part of Plan to Reach $25/hr by 2025

Bank of America raising minimum wage to $23/hr in October
Increase part of goal to get to $25/hr minimum by 2025
Second largest U.S. lender has increased pay several times recently
Started with move to $15/hr minimum in 2017
Bank says competitive minimum pay is "foundational"

cnbc.com

Relevant topic timeline:

8/20/2023

How much will Florida minimum wage rise to in September 2023?

Florida's minimum wage is set to increase from $11 to $12 in September, with subsequent annual increases until it reaches $15 in 2026. This is part of a trend seen in several states where the minimum wage is higher than the federal amount of $7.50.

9/12/2023

California Groups Reach Deal to Raise Minimum Wage to $20/hr, Averting Ballot Fight

California restaurants and unions have agreed to raise the minimum wage for fast-food workers to $20 per hour, avoiding a potential ballot fight over a previously passed law.