Bank of America

Bank of America’s leadership has grown far more diverse in recent years: The board of directors and executive team are more than 50% diverse, and over half the company’s workforce are people of color. Pay equity has also been a priority: In 2023, the company increased its U.S. minimum hourly wage to $23, a step closer to reaching its target of $25 by 2025. Women employees received more than 99% of their male colleagues’ compensation, while employees of color received over 99% of their white coworkers’ compensation. 
 

Bank of America allocated $17 million in tuition assistance in 2022, distributing it to over 5,000 employees. Company policy makes up to $7,500 in educational expenses available to eligible staff every year, through either reimbursement or a prepaid voucher.
 

BofA added a new sabbatical program in 2022, offering workers with 15 years of continuous service four additional weeks of PTO (and up to six weeks for employees who have been with the bank for at least 30 years). By the end of 2023, more than 10,000 staff had taken advantage of the program.