Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

Banks agreed to raise more than 40% for December-January, how much is the initial salary?


The Banking Association communicated a new salary agreement with financial entities. The minimum salary exceeds $900,000.

NA

In the midst of inflationary acceleration, the guild of banking managed to seal a salary increase of more than 40% for the December-January two-month periodwith which the initial salary of the sector, plus the participation of profits, is close to $905,000.

“As defined in the minutes dated 12/14/2023, an update of 23.2% must be incorporated into the December 2023 salaries, retroactive to the first of said month, taking the basis of December 2022 salaries. The same “Applies to all conventional and non-conventional remuneration and additional benefits.”indicated the statement from La Bancaria.

On the resulting basis as of December 2023, in addition, the union agreed to incorporate a “20% advance for the month of January 2024, for all conventional and non-conventional remunerations and additional payments.”

The increase in the month of January is advance conceptgiven that If inflation exceeds 20% it will be automatically adjustedwith banking entities having to apply the corresponding retroactive salary difference, the union recalled.

In this way, the minimum initial banking salary will be composed as follows:

Starting Salary + Profit Share (ROE):JANUARY $865,277.01 + $39,080.67 = $904,357.68

IN DEVELOPMENT…





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *