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Bankers agreed to a 63% salary increase in the first quarter of 2024: how much they will earn in May

Bankers agreed to a 63% salary increase in the first quarter of 2024: how much they will earn in May

Banks will pay a 7% increase in salaries to be collected in May, but with the possibility of adjustment if the inflation figure that INDEC will release in the middle of the month exceeds that percentage.

The banking union announced this Friday an increase in gross salaries for April equivalent to that month’s inflation. In this way, workers in the sector will accumulate an increase of 63.1% in their income since the beginning of the year, against an inflation that is estimated to be just below 60% for the same period.

Initially, banks will pay a 7% increase in salaries to be collected in May, but with the possibility of adjustment if the inflation figure that INDEC will release in the middle of the month exceeds that percentage.

With this rise, The initial salary will be $1,211,946.21while the amount corresponding to Banking Day will be set at a minimum of $1,042,729.66.

Salary heterogeneity between sectors

According to data from macroeconomist Federico Pastrana, The real salary of workers suffered a loss of 7% between November 2023 (prior to the devaluation) and March 2024.

However, there is great heterogeneity between the different agreements that are signed between unions and employers.

While oil workers, bankers, metalworkers and food industry workers saw an improvement in that period, the rest of the working world suffered in recent months from a drop in purchasing power. The most notable cases were construction (-20%), truck drivers (-13%) and building managers (-12%).

Source: Ambito

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