Bank of America Expanded Apprenticeship Program
The lender will hire 1,000 new apprentices over two years as skills-based hiring continues to grow.
Updated on Sept. 24, 2026 in Jobs — General
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Bank of America announced plans to add 1,000 apprentices to its workforce over the next two years, supported by a $150 million commitment to workforce development programs. The initiative targets roles across technology, operations, and consumer banking to expand the company's access to talent.
Why it matters
The firm is doubling down on skills-based hiring to meet operational labor needs, noting that 40% of its recent hires do not hold a bachelor's degree. This shift reflects a broader corporate trend toward sourcing candidates through community colleges and military backgrounds rather than traditional degree requirements.
Bank of America will bring on 1,000 additional apprentices over two years, building on an existing annual intake of 800. The bank is also committing $150 million to workforce development organizations, significantly outpacing the $40 million invested in the prior year.
The players
Bank of America
A multinational financial services firm based in Charlotte that serves as a major U.S. consumer and commercial lender.
The details
The bank plans to integrate these apprentices into operations, technology, and consumer banking roles using paid work-based learning models. By partnering with over 100 colleges and 600 nonprofits, the firm is codifying a recruitment pipeline that bypasses traditional four-year degrees. This model aligns with previous commitments to recruit 10,000 veterans and 8,000 community college graduates.
Timeline
Last year, the bank invested $40 million in workforce initiatives.
Last month, the bank unveiled a $250 billion infrastructure finance initiative.
September 24, 2026, the bank announced these new hiring and investment plans.
The 1,000 additional apprentices will be hired over the next two years.
The $150 million investment will occur over the next five years.
Market Landscape
This move formalizes the industry's shift toward skills-based hiring, prioritizing functional competency over traditional academic credentials. The strategy aligns with broader organizational efforts to secure talent pools through community college and veteran-focused recruitment pipelines.
Operators should monitor whether this apprenticeship model leads to a decrease in recruiting costs or improves retention in technical and operations roles. Assessing your own firm's degree requirements may be necessary to remain competitive in a cooling, skills-focused labor market.
The takeaway
The move demonstrates that large firms are increasingly willing to build internal pipelines to solve chronic talent shortages. Owners should evaluate whether formalizing an entry-level apprenticeship program could reduce the lead time and expense associated with traditional external hiring.
Further reading
For more on industry employment shifts, visit Jobs — General.
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