PROVIDENCE – All Bank of America Corp. employees nationwide – including 2,120 in Rhode Island – will see their minimum hourly wage rise to $25 starting in early October, pushing annual pay for full-time workers above $50,000.

The raise to $25 an hour marks the bank’s latest wage hike, capping a steady climb from under $15 since 2017, making for an increase of more than $20,000 in starting salary for full-time U.S. employees. PBN Branded Content

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For comparison, the bank’s minimum wage last year was $24 per hour. According to the R.I. Department of Labor and Training, the average starting hourly pay rate in the state is $15.

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