We promote a culture that appreciates and celebrates achievement year-round at all levels. This includes opportunities for teammate-to-teammate recognition, for managers and senior leaders to call out individuals and teams with point-based rewards and for managers and senior leaders to celebrate milestones for anniversaries and service to our company and legacy.
This is in addition to the actions we take to make Bank of America a great place to work, including sharing our success with our teammates. Since 2017, we have awarded more than $4 billion in special compensation awards in recognition of efforts in driving responsible growth. In 2023, approximately 96% of employees have received or will receive an award.
We pay our teammates fairly based on market rates for their roles, experience and how they perform, and we regularly benchmark against other companies both within and outside our industry to help ensure our pay is competitive.