Bank of America to Hire 10,000 People From Low- and Moderate-Income Communities
Bank of America’s Pathways Program Partners With Nonprofits to Fuel Talent Pipeline
Bank of America announced today its Consumer and Small Business division is targeting hiring 10,000 individuals from low- and moderate-income neighborhoods over the next five years. Through its Pathways program, the company is working with nonprofit partners to provide professional skills training and career pathways for members of the communities the bank serves. The program’s focus is on preparing candidates for ongoing career opportunities with the bank.
“Our business is based on client relationships, and we continuously seek great people in our financial centers and contact centers to build those relationships locally,” said Dean Athanasia, president and co-head of Consumer and Small Business. “By hiring from the communities we serve and helping our teammates develop their careers at the bank, we are helping our clients – and employees – lead better financial lives.”
Working with national nonprofit partners, Bank of America is building a pipeline of local talent to connect to sustainable jobs. Some partners, such as Year Up and UnidosUS, empower career-ready individuals to gain an entry point to full-time employment. Others, like Boys & Girls Clubs of America and Urban Alliance, provide opportunities for younger individuals to gain valuable skills for a future career. The bank supports these nonprofit partners in recruiting candidates for the Pathways program, which provides a defined onboarding plan, education for required skills, on-the-job training, and a roadmap to full-time employment and future career opportunities.
For participants who accept a position at Bank of America, their training comes through The Academy, Bank of America's training and career development program that supports more than 66,000 Consumer and Small Business employees. The Academy offers instruction from subject matter experts, dedicated training time, peer mentors, immersion programs, hands-on experiential learning, and innovative digital tools that encourage employees to take personal ownership of their careers. In 2017, 25,000 associates participated in Academy training, with a third of those already taking the next step in their careers.
“The Academy is like a university within the company that instills our client-centric culture and guides our teammates throughout their career, not just in carrying out their job,” said John Jordan, head of the Academy and Advisor Development at Bank of America. “By investing in developing our current and future workforce at all points along their career journeys, we deliver on being a great place to work.”
Bank of America serves approximately 66 million client relationships with approximately 4,400 retail financial centers. About one-third of those financial centers are located in low- to moderate-income neighborhoods. The Pathways program is part of a tailored, community-centered approach that connects clients and small businesses in these neighborhoods to the bank’s products and services, financial education and tools, job opportunities, and capital to help improve financial lives.
Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million client relationships with approximately 4,400 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 36 million active users, including 25 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters May Contact:
Kate Murphy, Bank of America, 1.980.387.0914