Bank of America said it will hire an additional 1,000 apprentices over the next two years, expanding a paid work-based learning program that currently brings on more than 800 apprentices annually.
The banking giant also committed $150 million over five years to workforce development organizations across the United States, building on nearly $40 million invested through partnerships in 2025. About 600 nonprofit organizations and more than 100 universities and community colleges were part of its partnership network in 2025.
Apprentice roles will span Consumer Banking, Technology, Operations and other client-facing areas. Participants typically complete about 12 months of paid, work-based learning that can lead to industry-recognized credentials or licensing. According to the bank, apprentices earn at least $50,000 annually. Approximately 40% of Bank of America's hires do not hold a bachelor's degree.
The expansion reinforces earlier commitments the bank made to hire 10,000 individuals with military backgrounds and 8,000 people from community colleges over a five-year period.
"This is one more way for us to do what we can to help create a skilled American workforce for tomorrow," Brian Moynihan, Bank of America's chair and CEO, said in a statement. "Our apprenticeship and workforce development programs underscore our continued commitment to expanding opportunity and helping talented individuals develop the skills to succeed."
Keith Sonderling, acting secretary of labor, said, "I applaud Bank of America for investing in apprenticeship and workforce development programs that prepare Americans for high-skilled, high-paying jobs while helping employers build the skilled workforce they need in their local communities."
