Bank of America will hire 1,000 additional apprentices over the next two years and invest $150 million in workforce development organisations over five years, as part of an effort to expand access to skills-based career opportunities across the US.
The additional apprenticeships will build on the more than 800 apprentices the bank currently hires each year across Consumer Banking, Technology, Operations and other business areas.
The bank said the initiative will expand opportunities for workers entering the workforce through nontraditional pathways, including roles that do not require a bachelor’s degree. Currently, around 40 per cent of Bank of America’s hires do not have a bachelor’s degree.
The $150 million workforce development commitment will support organisations that provide skills training, career coaching and connections to employment opportunities. The investment builds on nearly $40 million that Bank of America invested in workforce development in 2025 through partnerships with more than 100 universities and community colleges and more than 600 nonprofit organisations across its US markets.
Reportedly, the announcement also builds on the bank’s existing hiring commitments, including plans to hire 10,000 additional people with military backgrounds and 8,000 individuals from community colleges over five years.
Bank of America said its apprenticeship programmes provide paid, work-based learning opportunities, while its in-house training organisation, The Academy, offers employees training, coaching and hands-on experiences to build and strengthen skills.
The initiative comes as the bank continues to expand its skills-based hiring strategy and focus on career mobility and workforce development.
