With July salaries, due in August, bank employees will receive compensation for the difference in inflation in the first half of the year.
Following negotiations between La Bancaria and the business chambers of the financial sectorin July bank workers will recover what they lost due to inflation in the first half of the year 2024. Thus, an employee with little seniority will receive a total close to $1,340,000.
According to the union that represents bank workers, Companies will have to pay, along with July salaries (which will be paid in August), the difference between the accumulated inflation up to June (79.8%) and the salary increases granted so far this year (71.9%).
The statement explains that in order to close this gap, an increase will be applied to May salaries equivalent to the inflation of June (4.6%), for all gross monthly salaries, normal, usual and total, both remunerative and non-remunerative, including conventional and non-conventional additional payments.
“In this way, once again, the Banking Association guarantees the application of monthly inflation rates so that bank workers do not lose out to inflation, safeguarding the purchasing power of our constituents,” the institution stressed.
With this adjustment, the “confirmed salary” to be paid in the first days of August for those employees with 0 to 5 years of seniority will be $1,296,473.39. To this will be added approximately $46,847.36 for the profit-sharing quota (ROE) that exists by agreement. In sum, The total will be $1,343,320.75.
On the other hand, the increases will impact the amount to be charged for the Banker’s Daythat has a minimum of $1,155,761.17to be corrected for inflation.
Looking ahead, the parties involved in the negotiations have committed to “continue negotiations in the second half of August.”
Real wages in the private sector have fallen by 5% since November
The latest data from SIPA indicated that Real wages of formal private sector employees improved by 5.2% in April. Even so, since November they have accumulated a contraction of 4.7%.
It should also be noted that this segment of workers is the most stable in the economy in this context. The salaries of public employees and informal workers (for whom SIPA does not provide information) are in a worse situation.
Source: Ambito
