Short answer
Bank of America had 209,911 employees as of September 30, 2026, according to the supplemental information it filed with its third-quarter 2026 results on October 14, 2026. That's down from 213,207 at the end of 2025. Its Form 10-K for 2025 gives approximately 213,000 employees at December 31, 2025, 77% of them in the US. The count was also about 213,000 at the end of 2023 and 2024.
- 209,911 employees at September 30, 2026, down 3,296 since December 31, 2025 (our calculation from the bank's quarterly figures).
- About 213,000 at the end of 2023, 2024 and 2025; 77% were in the US at the end of 2025.
- Turnover was 8% in 2023, 2024 and 2025, down from 13% in 2022; the bank hired over 18,000 people in each of 2024 and 2025.
- Revenue per employee was about $531,000 in 2025 (our calculation).
On this page
This page is for sellers sizing Bank of America as an account, analysts comparing banks, and anyone who needs a citable headcount. Every figure comes from Bank of America Corporation's own filings: the quarterly earnings supplement it files on Form 8-K, its 10-Qs and its annual report on Form 10-K. Its fiscal year is the calendar year.
Bank of America employees by quarter (latest)
| As of | Headcount | Source |
|---|---|---|
| September 30, 2026 | 209,911 | Q3 2026 supplemental information, 8-K filed October 14, 2026 |
| June 30, 2026 | 211,304 | same supplement (the Q2 10-Q gives approximately 211,000) |
| March 31, 2026 | 212,134 | same supplement |
| December 31, 2025 | 213,207 | same supplement (the 10-K gives approximately 213,000) |
| September 30, 2025 | 213,384 | same supplement |
The supplement says current-period figures are "preliminary and based on company data available at the time." The 10-Q and 10-K round to the nearest thousand.
Bank of America employees by year
| Year | As of | Employees | Located in the US | Source |
|---|---|---|---|---|
| 2025 | December 31, 2025 | about 213,000 | 77% | 10-K filed February 25, 2026 |
| 2024 | December 31, 2024 | about 213,000 | 78% | 10-K filed February 25, 2025 |
| 2023 | December 31, 2023 | about 213,000 | 78% | 10-K filed February 20, 2024 |
| 2022 | December 31, 2022 | about 217,000 | 79% | 10-K filed February 22, 2023 |
| 2021 | December 31, 2021 | about 208,000 | 80% | 10-K filed February 22, 2022 |
| 2020 | December 31, 2020 | about 213,000 | 82% | 10-K filed February 24, 2021 |
| 2019 | December 31, 2019 | about 208,000 | 82% | 10-K filed February 19, 2020 |
| 2018 | December 31, 2018 | about 204,000 | not stated | 10-K filed February 26, 2019 |
The US share for 2019 comes from the 2020 10-K, which gives both years.
What the number includes
The 2025 10-K says: "At both December 31, 2025 and 2024, the Corporation employed approximately 213,000 employees, of which 77 percent and 78 percent, respectively, were located in the U.S. None of our U.S. employees are subject to a collective bargaining agreement."
- The whole group, as far as the filing says. The 10-K notes that "the Corporation" can mean Bank of America Corporation alone or with its subsidiaries; for a company-wide headcount the natural reading is the group, which includes Bank of America, N.A. and Merrill. The filing doesn't split the count by subsidiary.
- Mostly US, slowly less so. The US share has fallen from 82% in 2019 and 2020 to 77% in 2025. At 77% of about 213,000, roughly 164,000 people worked in the US at the end of 2025 (our calculation).
- Employees, not contractors. The filings count employees and give no contractor figure.
- No union contracts in the US, per the 10-K.
The 10-K adds a few workforce facts for 2025: compensation and benefits expense was $42.3 billion, or 61% of noninterest expense; the bank hired over 18,000 people; more than 14,000 employees moved to new roles internally; and the US minimum hourly wage reached $25 in October 2025, the last step of a plan announced in 2021.
| Year | Employee turnover (10-K) | US minimum hourly wage reached that year |
|---|---|---|
| 2025 | 8% | $25 (October) |
| 2024 | 8% | $24 (October) |
| 2023 | 8% | $23 (October) |
| 2022 | 13% | $22 (June) |
| 2021 | 12% | $21 (fourth quarter) |
| 2020 | 7% | $20 (first quarter) |
What changed and why
The bank's filings don't explain its year-to-year headcount moves. The largest since 2018 was a rise of about 9,000 people (about 4%) in 2022. What the filings do show:
- 2021 to 2022: high turnover, then a rebound. Turnover rose from 7% in 2020 to 12% in 2021 and 13% in 2022, while headcount dipped to about 208,000 and then rose to about 217,000. More than 26,000 employees found new roles inside the bank in 2021, and more than 30,000 in 2022.
- 2023 to 2025: flat at about 213,000. Turnover settled at 8% a year and hiring at over 18,000 a year in 2024 and 2025, roughly enough to replace leavers.
- 2026 so far: down about 3,300. Each quarter of 2026 has come in lower than the last, from 213,207 to 209,911. The supplement gives the numbers without commentary. Over the same period the bank's US financial center count fell from 3,628 to 3,531.
Revenue per employee
| Period | Total revenue, net of interest expense | Employees at period end | Revenue per employee (our calculation) |
|---|---|---|---|
| 12 months to September 30, 2026 | $120,155 million | 209,911 | about $572,400 |
| 2025 | $113,097 million | about 213,000 | about $531,000 |
| 2024 | $105,856 million | about 213,000 | about $497,000 |
| 2023 | $102,769 million | about 213,000 | about $482,500 |
For 2025: $113,097 million divided by 213,000 is about $531,000 (or about $530,500 using the supplement's exact 213,207). The trailing figure adds the four quarters from the fourth quarter of 2025 to the third quarter of 2026 ($28,367, $30,272, $31,558 and $29,958 million).
Bank of America doesn't split headcount by segment. Its four segments' 2025 revenues, on the fully taxable-equivalent basis it uses for segments, were $43.7 billion for Consumer Banking, $24.9 billion for Global Wealth & Investment Management, $24.1 billion for Global Banking and $24.1 billion for Global Markets.
Selling to a company of Bank of America's size
General guidance, not a description of Bank of America's internal process.
A bank with about 210,000 employees, 3,500 financial centers and four segments buys through a line of business and a control function at the same time.
- Start with the segment. Consumer Banking, wealth management, corporate banking and markets have separate leaders and budgets. Name the one your product serves.
- Plan for third-party risk review. Large US banks generally put new vendors through security, data, resilience and regulatory reviews before a contract. Have your documentation ready before the first meeting.
- Lead with cost or control. With compensation at 61% of noninterest expense, tools that save employee time or reduce operational risk get the most attention.
- Use the 10-K's own numbers (69 million consumer and small business clients, about 49 million active digital users) to size your case.
For a research routine, see how to research an account, and how to find decision makers to reach the owner. For a peer, compare Citigroup's headcount.
Next step: see how the wider market breaks down on our list of banks in the US.
Sources
- Bank of America Corporation supplemental information, third quarter 2026 (Form 8-K, Exhibit 99.3), Bank of America Corporation, via SEC EDGAR, 14 October 2026
- Bank of America Corporation Form 10-Q for the quarter ended June 30, 2026, Bank of America Corporation, via SEC EDGAR, 31 July 2026
- Bank of America Corporation Form 10-K for the fiscal year ended December 31, 2025, Bank of America Corporation, via SEC EDGAR, 25 February 2026
- Bank of America Corporation Form 10-K for the fiscal year ended December 31, 2024, Bank of America Corporation, via SEC EDGAR, 25 February 2025
- Bank of America Corporation Form 10-K for the fiscal year ended December 31, 2023, Bank of America Corporation, via SEC EDGAR, 20 February 2024
- Bank of America Corporation Form 10-K for the fiscal year ended December 31, 2022, Bank of America Corporation, via SEC EDGAR, 22 February 2023
- Bank of America Corporation Form 10-K for the fiscal year ended December 31, 2021, Bank of America Corporation, via SEC EDGAR, 22 February 2022
- Bank of America Corporation Form 10-K for the fiscal year ended December 31, 2020, Bank of America Corporation, via SEC EDGAR, 24 February 2021
- Bank of America Corporation Form 10-K for the fiscal year ended December 31, 2019, Bank of America Corporation, via SEC EDGAR, 19 February 2020
- Bank of America Corporation Form 10-K for the fiscal year ended December 31, 2018, Bank of America Corporation, via SEC EDGAR, 26 February 2019
Written by the Bebop team at Blackpearl Group. Published .
Questions people ask
How many employees does Bank of America have in the US?
Bank of America's 2025 10-K says 77% of its approximately 213,000 employees were located in the US at December 31, 2025, which is roughly 164,000 people (our calculation). The US share has fallen from 82% at the end of 2019 and 2020. None of the bank's US employees are covered by a collective bargaining agreement, according to the same filing.
Is Bank of America cutting jobs?
Its headcount has fallen slowly in 2026: from 213,207 at December 31, 2025 to 212,134 in March, 211,304 in June and 209,911 at September 30, according to the bank's quarterly supplement. That's a drop of about 1.5% in nine months (our calculation). The bank's filings don't announce a layoff program or explain the decline.
What is Bank of America's employee turnover rate?
8% in 2025, the same as in 2024 and 2023, according to the bank's 10-K. Turnover was higher in 2021 (12%) and 2022 (13%) and lower in 2020 (7%), which the 2020 10-K called historically low. The filings don't define how turnover is calculated. The bank hired over 18,000 people in each of 2024 and 2025.
What is Bank of America's minimum wage?
$25 an hour for US employees since October 2025, according to the bank's 2025 10-K. That was the final step of a plan announced in 2021: the minimum went from $20 in early 2020 to $21 in late 2021, $22 in June 2022, $23 in October 2023, $24 in October 2024 and $25 in October 2025.
How often does Bank of America report its headcount?
Every quarter. The supplemental information filed with each quarter's earnings release on Form 8-K gives an exact headcount, and the 10-Q and 10-K give a rounded figure. The latest is 209,911 at September 30, 2026, filed October 14, 2026. The 10-K, filed each February, adds the US share, hiring, turnover and wage details.