Conducting collective negotiations in Norway’s financial sector has been a difficult process not least because of a power struggle between the LO Finans union (the post and telecommunications sector umbrella union, with 2,000 members) and Finansförbundet (the financial sector trade union with 32,000 members). Finans Norge, the financial sector employers’ body has traditionally negotiated solely with Finansförbundet but LO Finans successfully triggered strike action in a bid to become officially recognized as a separate negotiating entity the upshot of which is that Finans Norge now has two separately negotiated agreements.
A regular agreement between Finans Norge and Finansförbundet. On 31 May 2018, an agreement was struck between the financial sector employers’ body Finans Norge, and the financial sector trade union, Finansförbundet. In it is intended:
- a 1% salary increase from 01 May 2018, with the minimum amount being NOK 4,000 (€422),
- a minimum annual salary level increase from NOK 286,547.00 (€30,225.50) to NOK 333,218.00 (€35,158.50), and,
- an adjustment to remuneration schedules from 01 January 2019 that
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