Bank of America hands $1B in stock to employees, raises pay amid nationwide hiring push
The financial giant marked its ninth straight year of worker stock awards under its Sharing Success Program — part of a broader effort to boost wages, expand hiring and invest in the U.S. workforce.
Bank of America on Wednesday announced that it will be hiring nearly 4,000 summer interns and full-time recruits from campuses this summer as the nation's second-largest bank looks to bring new talent into its workforce.
The firm said in a release that the hiring plans are reflective of Bank of America's deliberate and ongoing approach to recruiting high-performing talent from more than 500 colleges and universities to support the bank's clients and drive its long-term growth.
"Our approach to hiring is intentional and long term," said Sheri Bronstein, chief people officer at Bank of America.
"We focus on attracting the best talent with the right skills, potential, and a strong career mindset – and we invest in growing that talent through long-term careers that meet the needs of our clients and drive responsible growth," Bronstein added.
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Bank of America announced new plans to hire entry-level workers from colleges and universities around the country. (Spencer Platt/Getty Images)
Bank of America's announcement noted that the financial services provider remains committed to other previously-announced initiatives aimed at hiring entry-level workers.
The bank's military veteran program has resulted in over 20,000 hires to date, the bank said. It added that it is also continuing to hire from community colleges around the country and its other early career programs to meet the evolving needs of the firm's global client base.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BAC | BANK OF AMERICA CORP. | 52.48 | +0.97 | +1.88% |
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Last fall, Bank of America said that it aims to hire another 10,000 more individuals with military backgrounds over the next five years – adding to the more than 20,000 hires dating back to 2015 and raising the new goal to 30,000 from that time.
Its September 2025 announcement also said it planned to move forward with 8,000 new hires from community colleges over the next five years, doubling its annual hires from 800 to 1,600 in that period of time.
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Bank of America is continuing its efforts to hire military veterans as well as students and graduates from community colleges. (Michael Nagle/Bloomberg via Getty Images)
Bank of America also said in September that it plans to invest in 700 jobs within its network of financial centers in new growth markets, including Alabama, Idaho, Louisiana and Wisconsin.
The jobs would support the opening of 26 financial centers over the next 18 months and 37 financial centers in those states in 2027.
