Call For Rise in Banking Salaries

Bank employee representatives have set their demands for this fall’s wage negotiations. Their objective is to raise salaries at the lower end.

The Swiss Bank Employees Association is advocating a general wage increase and raise of at least 2.2 percent, or 300 francs a month for bank employees, according to a statement Thursday.

The call is the outcome of a salary survey among more than 4,000 employees and a meeting of employee representatives in mid-September. The boost would help those on lower wages, in particular, the statement says.

The association points out that while wages in the banking industry are rising, on the whole, not everyone is seeing the benefit. On an individual level, only 32 percent of respondents got a boost in 2021, down from 37 percent in the last survey.

Banks were profitable, despite the Covid 19 crisis, and results from this year have continued to be good, with most banks having saved costs from people working from home.

Next year the association will focus on fair and transparent rules for the wage-setting process.