Bank of America Expands Apprenticeship Programs With 1,000 Additional Hires

Bank of America plans to hire 1,000 additional apprentices over the next two years, together with the more than 800 it already hires each year, the bank said in a Thursday (Sept. 24) press release.

The bank will also invest $150 million in workforce development across the United States, building on the nearly $40 million it invested in 2025, according to the release.

“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 in the release. “Our apprenticeship and workforce development programs underscore our continued commitment to expanding opportunity and helping talented individuals develop the skills to succeed.”

Bank of America’s commitment to hire additional apprentices will expand job opportunities into the bank’s Consumer Banking, Technology, Operations and other client-facing areas, according to the release.

The bank’s apprenticeship programs provide structured, paid, work-based learning opportunities for individuals entering the workforce through nontraditional pathways, thereby expanding access to long-term careers that do not require a bachelor’s degree, the release said.

The apprenticeships combine on-the-job experience with training and development, often lead to portable credentials or licensing, and may lead to promotion to a non-apprentice role, per the release.

Bank of America’s $150 million investment will support workforce development organizations that equip individuals with in-demand skills, prepare them for employment and connect them to career opportunities, according to the release.

The bank will determine specific organizations and investments over time based on local workforce needs and opportunities for impact, per the release.

PYMNTS reported in August that Bank of America has committed to opening more than 150 financial centers across 60 markets by the end of 2027, including 70 planned for 2026.

During an earnings call, Moynihan described the bank’s expansion strategy as a “rational full market build-out” rather than entering cities one location at a time.

Bank of America is among the big banks that are putting billions of dollars behind the physical network, leading to the U.S. bank branch count moving up meaningfully for the first time in years, the report said.