Agreement in the financial sector: 3 percent increase in salary from April!

Agreement in the financial sector: 3 percent increase in salary from April!

Good news for the approximately 68,000 employees in the financial sector in Austria: In the collective agreement negotiations concluded on March 18, 2025, a salary increase of three percent and an improvement in pension fund contributions was agreed. From April 1, 2025, the employees benefit from this linear increase in salary, which lies above the inflation rate of 2.9 percent of the previous year, as both Kosmo href = "https://www.kleinezeitung.at/wirtschaft/19485447/68000-beschafttigte-im-Finanzsector-erhalt-um-prrei-prezent- Mehr"> Kleine Zeitung reported

In addition, an increase in the minimum contribution to company pension schemes, which pension funds must be decided by 0.15 percentage points. These pension funds are significant for retirement provision and offer employees security. Wolfgang Pischinger, the chief negotiator of the GPA union, described these adjustments as a "framework law improvement". In addition to the salaries, apprenticeship income is also increased by 3.15 percent and children's allowances are increased by three percent, which helps to stabilize the financial situation of many families.

important agreement for everyone involved

The agreement is considered a compromise, which is classified as "justifiable" on both sides. The employers of the credit industry viewed the negotiated contract as a necessary step to ensure employee satisfaction and motivation. The banking association was cautious, but evaluated the agreement positively in the context of a tolerable economic situation. These developments are crucial for the attractiveness of the sector and the binding of the employees to their employers.