Staffers in the U.S. who earn $100,000 or less annually will get a cash award of $750 late next month, Moynihan said Thursday in a company memo.
Employees who make between $100,000 to $500,000 annually will receive 150 to 750 restricted stock units, the bank said. These stock awards will be paid out over four years starting in 2022.
Under Moynihan, the firm was also one of the first big banks to say it was moving to a $20 minimum wage, a move they completed in April of last year,
BOA is doing something great to the workers. For the frontline workers, this is a necessary help. BOA is a solid bank and recovery stock.