Posted on: April 09, 2019 03:50 PM

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20 minimum wage announced by Bank of America

Bank of America announced $20 an hour as its minimum pay today. The current pay is $15 which will be raised to $17 starting May 1 and then to $20 by 2021. Beside Bank of America, JP Morgan also announced $18 an hour depending on the local cost of living. The effect for JP Morgan will take place in November. More banks are in the process to compete for skilled labor to remain competitive in the labor market.