Bank of America (NYSE: BAC) announced plans to hire 1,000 additional apprentices over the next two years and commit $150 million over five years to workforce development organizations across the United States, according to a company press release dated Sept. 24, 2026.

The new apprentice hiring target is in addition to the more than 800 apprentices the bank already brings on each year. The expanded program will cover roles in Consumer Banking, Technology, Operations and other client-facing areas.

The $150 million funding commitment builds on nearly $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. Specific organizations to receive funding will be identified over time based on local workforce needs.

Bank of America CEO Brian Moynihan said in a statement: "Our apprenticeship and workforce development programs underscore our continued commitment to expanding opportunity and helping talented individuals develop the skills to succeed."

Acting Secretary of Labor Keith Sonderling commented on the announcement, saying: "American workers deserve the opportunity to build successful careers without leaving their hometowns."

The bank said approximately 40% of its current hires do not hold a bachelor's degree. The apprenticeship announcement follows earlier commitments to hire 10,000 additional people with military backgrounds over five years and 8,000 individuals from community colleges. The bank also noted that employees earn a minimum of $50,000 annually.

Bank of America's apprenticeship programs offer paid, work-based learning typically lasting about 12 months, which can lead to industry-recognized credentials. The bank said participants may be promoted to non-apprentice roles upon completion.