Call For Rise in Banking Salaries
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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.
Questions & Answers
Q.Which organisation is demanding a pay increase for bank employees?
Which organisation is demanding a pay increase for bank employees?
The Swiss Bank Employees Association is advocating for a general wage increase. They announced their demands following a survey and a meeting of employee representatives in mid-September.
Q.What is the specific pay rise being sought by the association?
What is the specific pay rise being sought by the association?
The association is calling for a general wage increase and a raise of at least 2.2 percent. Alternatively, they are seeking an increase of 300 francs a month for bank employees.
Q.Why does the association believe a pay rise is justified for bank employees?
Why does the association believe a pay rise is justified for bank employees?
Banks remained profitable throughout the Covid 19 crisis and have continued to perform well this year. Many banks also saved costs due to employees working from home.
Q.What is the association's focus for next year regarding wages?
What is the association's focus for next year regarding wages?
Next year, the association plans to concentrate on establishing fair and transparent rules for the wage-setting process. This follows concerns that not all employees benefit from rising industry wages.
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