Credit economy raises salaries: 11 percent more for bank employees!

Credit economy raises salaries: 11 percent more for bank employees!

In a significant turn for salaries in the financial sector, the employers of the credit industry and the GPA union agreed after intensive negotiations on a salary increase of three percent. This affects around 68,000 employees and comes into force on April 1, 2025. In addition, the minimum contribution to company pension scheme is increased by 0.15 percentage points. The banking association describes the agreement as a "justifiable compromise from an employer perspective", while the adaptation of three percent is just above the forecast inflation rate of 2.9 percent for 2024, such as vienna.at At the same time at the same time, significant tariff negotiations between the employers' association of the Volks- und Raiffeisenbanken (AVR) and the German Banking Association (DBV) were successfully completed in Cologne. The result provides for a salary increase in three stages, which will bring a total of 135,000 employees an increase of 11 percent. This exceeds the previous collective agreement for private banks by 0.5 percent. DBV negotiator Stefan Griggel states that the increases include the urgent inflation compensation. The next increase of 3.5 percent is planned for May 1, 2026, followed by a further 1.5 percent on April 1, 2027, and the new collective agreement applies until May 2027, like private-banking-magazin.de . This has been the highest increase in around 30 years.