Bank of America announced plans on 24 September to hire 1,000 additional apprentices in the United States over the next two years. It also committed $150 million over five years to workforce development and skills training. The initiative expands recruitment routes for candidates without a four-year university degree.
The bank said the new apprenticeships will span consumer banking, technology, operations and client-facing functions. It already recruits more than 800 apprentices annually through existing programmes. About 40% of its current hires do not hold a bachelor’s degree, according to the company.
HIRING ROUTES WILL EXPAND
The programme will combine paid work with structured training and is intended to create entry points into roles that have often relied on degree-based recruitment. Bank of America said apprentices will receive practical experience and opportunities to move into longer-term careers. The additional places are expected to be filled across several business areas rather than a single division.
The investment will support community colleges, non-profit organisations and other training partners. Bank of America said it invested almost $40 million in 2025 across more than 100 colleges and more than 600 non-profits. Those relationships give the bank an established channel for identifying candidates and aligning training with available jobs.
FIVE-YEAR COMMITMENT SETS MILESTONES
The new commitment follows earlier recruitment targets focused on military veterans and community-college graduates. It broadens the bank’s workforce strategy towards skills-based hiring while retaining specific numerical goals. The two-year apprentice target provides a near-term measure of execution within the longer five-year investment period.
Implementation will depend on how quickly training partners can expand programmes and place candidates into the identified roles. Progress can be assessed against the promised 1,000 additional apprentices and the deployment of the $150 million commitment. The bank has not set out an annual spending schedule, making future disclosures the next concrete test of delivery.