Bank of America plans to hire 1,000 additional apprentices over the next two years and commit $150 million over five years to workforce development organizations.
This commitment is on top of the more than 800 apprentices the company already hires each year.
“This is one more way for us to do what we can to help create a skilled American workforce for tomorrow,” Brian Moynihan, chair and CEO of Bank of America, said. “Our apprenticeship and workforce development programs underscore our continued commitment to expanding opportunity and helping talented individuals develop the skills to succeed. We appreciate the spirit of reform and practicality that the Department of Labor is bringing to this important work, which will lead to opportunities for the private sector to do even more.”
Bank of America’s $150 million investment over five years will support workforce development organizations that equip individuals with in-demand skills and connect them to career opportunities. These investments help build a workforce prepared for the jobs of today and the economy of tomorrow. It builds on the $40 million the company invested in 2025 through partnerships with more than 100 universities and community colleges and over 600 nonprofit organizations across its U S markets.
“American workers deserve the opportunity to build successful careers without leaving their hometowns,” Acting Secretary of Labor Keith Sonderling 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.”
Bank of America’s apprenticeship programs provide paid, work-based learning opportunities for individuals entering the workforce through nontraditional pathways. The company plans to expand existing programs and explore new roles and business areas to support this commitment.