Bank of America Pledges $150 Million, 1,000 New Apprentices for U.S. Workforce

Bank of America announced on September 24 that it will invest $150 million over five years in U.S. workforce development, adding 1,000 apprentices over two years on top of the 800-plus it already hires annually through paid 12-month programs. The bank also committed to hiring 10,000 military veterans and 8,000 community college workers over five years, noting that roughly 40% of its current hires lack a bachelor's degree.

Bank of America has set minimum annual pay across the company at $50,000 and invested nearly $40 million in 2025 through more than 100 university and 600 nonprofit partnerships. CEO Brian Moynihan said the initiative is "one more way for us to do what we can to help create a skilled American workforce."

Shares ticked up 0.16% to $56.09 on the news, though the stock remained in oversold territory and about 7% below its 20-day moving average. Wall Street's consensus rating on Bank of America is Buy, with an average price target of $66.14.