Bank of America to hire 1,000 more apprentices

### Bank of America to Add 1,000 Apprentices and Invest $150 Million in Workforce Development

Bank of America plans to hire 1,000 additional apprentices over the next two years and invest $150 million in workforce development programs over five years as the financial institution expands skills-based hiring across the United States.

The Charlotte, North Carolina-based bank said the new apprenticeship positions will cover areas including consumer banking, technology, operations and other parts of its business. The expansion builds on existing programs through which Bank of America hires more than 800 apprentices annually for paid, work-based learning opportunities.

The initiative is aimed at creating pathways into long-term careers for people entering the workforce through nontraditional routes, including roles that do not require a four-year college degree.

Bank of America said about 40% of its current hires do not hold a bachelor’s degree, highlighting the company’s broader shift toward evaluating candidates based on skills and experience rather than relying primarily on traditional educational credentials.

The bank is also pursuing other workforce initiatives. It has committed to hiring 10,000 additional people with military backgrounds over five years and bringing 8,000 community college graduates into its workforce.

“This is one more way for us to do what we can to help create a skilled American workforce for tomorrow,” Bank of America Chair and CEO Brian Moynihan said.

The bank said its apprenticeship and workforce development efforts are designed to help workers acquire practical skills and gain access to careers with longer-term opportunities for advancement.

The new $150 million commitment will support organizations involved in workforce development, including groups that provide training, career preparation and connections between workers and employers.

The five-year investment builds on nearly $40 million that Bank of America directed toward workforce development initiatives in 2025. That effort involved partnerships with more than 100 universities and community colleges and more than 600 nonprofit organizations across the bank’s U.S. markets.

According to Bank of America, its workforce partners estimated that the 2025 investments helped connect approximately 86,400 people with livable-wage employment opportunities and gave about 265,000 people access to training, education and career-readiness programs.

Acting Labor Secretary Keith Sonderling welcomed the expanded commitment, saying apprenticeship and workforce development programs can help prepare workers for high-skilled positions while helping employers address workforce needs.

Bank of America is also expanding training for its existing employees through The Academy, the bank’s internal workforce training and skills organization. The program offers employees training, coaching and practical experiences as job requirements change.

The training includes preparation for changes driven by artificial intelligence and other technologies that are reshaping the workplace and altering the skills required across financial services.

Bank of America said its apprenticeships generally last about 12 months and combine paid on-the-job experience with structured training. Participants may subsequently move into regular positions at the bank and can potentially earn industry-recognized credentials or professional licenses.

The expanded program comes as employers increasingly look beyond traditional degrees when recruiting for positions requiring specialized technical, operational and professional skills.

For Bank of America, the apprenticeship expansion and $150 million workforce investment form part of a broader effort to connect workers, educational institutions, nonprofit organizations and employers while developing talent for changing career opportunities across the U.S. economy.