Germany: agreement in banking sector for 4% pay rise and measures in view of digital transition

Social partners from Germany’s banking sector, including both public and private banks, unveiled the result of their negotiations on the morning of Thursday 4 July. The new collective agreement, valid until June 2021, is to apply to close to 190,000 workers and includes a pay rise of 4%, which will take effect in two stages. In addition to the pay rise, the agreement includes a package of measures aimed at preparing workers for the digital transition. Furthermore, negotiations were opened on several topics, including the sector’s pay scale, the creation of a collective agreement for traineeships, and an updating of the agreement on company pensions.

Through . Published on 05 July 2019 à 15h52 - Update on 05 July 2019 à 15h52

Two-stage pay rise of 4%. Social partners from Germany’s public and private banking sector announced that they had reached, during the night between 3 and 4 July, a compromise on a new branch-level agreement that includes wage increases as well as a series of new measures on ongoing training and re-skilling of workers so they can adapt to changes caused by the digital transition.…

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