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Bank of America raises minimum hourly wage for US employees

Employee Benefits

As a result of the increase, which applies to all full-time and part-time hourly US positions, the minimum annualised salary for full-time employees will rise to nearly $50,000 (£38,202). With the latest increase, the starting salary for full-time US employees will have increased by nearly $20,000 (£15,280) since 2017.

Banking 59
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Bank of America Raises Hourly Wages, Moves Closer to 2025 Goals

HR Digest

Image: Pexels Bank of America Wage Raise—Hourly Wages Move up to $24 USD As BoA lifts the minimum wage to $24 USD from $23 USD, workers can now expect the minimum annualized salary for full-time employees in the U.S. Bank of America’s wage raise will now bring the starting salary for full-time U.S. to go up to nearly $50,000 USD.

Banking 52
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Understanding Why Employees Quit

Achievers

In today’s networked marketplace, your most talented employees are going to keep an eye on opportunities in their field, and Gallup’s 2017 report on the State of the American Workforce finds that 51 percent of them are ready to jump ship at any given moment by actively looking for a new job or watching for openings.

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Understanding Why Employees Quit

Achievers

In today’s networked marketplace, your most talented employees are going to keep an eye on opportunities in their field, and Gallup’s 2017 report on the State of the American Workforce finds that 51 percent of them are ready to jump ship at any given moment by actively looking for a new job or watching for openings.

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HSBC reports 45.2% mean gender pay gap

Employee Benefits

Excluding variable pay, the bank’s overall mean gender salary gap was 39.7%, and its median was 47.8%. For HSBC UK specifically, its 2022 mean gender pay gap was 31.1% and its median gender pay gap was 20.3%. HSBC reported a mean gender bonus gap of 64%, and a median of 57.4%, in 2022, with 94% of men and 93.6%

Bonuses 59
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What impact has the pandemic and economic crisis had on pay gaps?

Employee Benefits

As it became a legal requirement for employers with more than 250 workers to publish their gender pay gap in 2017, the result of the suspension was that three out of five reporting years have been significantly affected. Awareness and visibility of pay gaps on a global basis has increased.

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5 Data-Based Reasons to Make Employee Education a Priority

Achievers

The right educational offering just might be the deciding factor for candidates who are being sourced for similar jobs with matching salary packages. In addition to usual wants, like higher salaries and better work-life balance, employees are looking for special in-house training and skills development to help advance their careers.

Education 119