Bank of America Expands Apprenticeship Programs With 1,000 Additional Hires
Bank of America plans to hire 1,000 additional apprentices over the next two years, together with the more than 800 it already hires each year, the bank said in a Thursday (Sept. 24) press release. The bank will also invest $150 million in workforce development across the United States, building on the nearly $40 million […] The post Bank of America Expands Apprenticeship Programs With 1,000…
Bank of America is set to hire 1,000 additional apprentices over the next two years, joining the over 800 it currently employs each year, according to a press release on September 24. The bank will also allocate $150 million towards workforce development initiatives across the United States, building upon the $40 million invested in 2025, the release stated.
Bank of America Chair and CEO Brian Moynihan emphasized that these programs are a means of contributing to the development of a skilled American workforce for the future. These expanded apprenticeship opportunities will encompass roles in the bank's Consumer Banking, Technology, Operations, and other client-facing areas. The bank's apprenticeship programs offer structured, paid, work-based learning experiences for individuals entering the workforce through nontraditional routes, thereby broadening access to long-term careers that do not necessitate a bachelor's degree.
These programs integrate on-the-job training with development, often culminate in portable credentials or licensing, and may result in advancement to non-apprentice roles, the release added. The $150 million investment will aid workforce development organizations in equipping individuals with marketable skills, preparing them for employment, and connecting them to career prospects, the release indicated.
The bank's specific organizations and investments will be determined over time based on local workforce needs and impact opportunities, as per the release. PYMNTS reported in August that Bank of America plans to open over 150 financial centers in 60 markets by the end of 2027, with 70 planned for 2026. During an earnings call, Moynihan described the bank's expansion strategy as a "rational full market build-out" instead of entering cities one location at a time.
Bank of America is among the large banks investing billions in physical networks, contributing to the U.S. bank branch count increasing for the first time in years, the report noted.
Written by urgent.news from PYMNTS's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
