CHARLOTTE, N.C.- Bank of America is bumping up pay earlier than originally planned.
Monday, the Charlotte based bank said its minimum hourly pay rate will jump from $17 an hour to $20 by the end of the first quarter of 2020.
The bank's original goal was to reach $20 an hour by 2021. The bank said by bumping up its timeline, it is sharing the company's success with its employees.
According to CNN, Bank of America is not the first bank to boost the minimum wage for its employees this year. Citigroup and JPMorgan Chase also raised their wages.
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