Volks- und Raiffeisenbanken: Salaries at cooperative banks are increasing

Status: 06.07.2022 3:29 p.m

Collective bargaining agreement at the Volks- und Raiffeisenbanken: the salaries of the 135,000 employees will increase by a total of 5.2 percent over the next two years. A one-off payment was agreed for the current year.

The salaries of the approximately 135,000 employees of the Volks- und Raiffeisenbanken will rise by a total of 5.2 percent. In October, there will also be a one-time payment of between 800 and 1000 euros, graded according to tariff groups. The trade union of the German Bank Employees’ Association (DBV) and the Employers’ Association of German Volksbanken and Raiffeisenbanken (AVR) agreed on this collective bargaining agreement in their third round of negotiations.

The agreement stipulates that salaries will initially increase by 3.2 percent in January 2023. Another wage increase of two percent will follow in January 2024. According to the DBV, the demand for binding minimum standards for mobile working was initially postponed in order to come to a conclusion as quickly as possible in view of the high rise in salaries.

“Consequences of rising prices cushioned”

“The effects of inflation are clearly noticeable – increases must be made promptly. We have achieved this,” said DBV negotiator Robert Piasta and the national chairman of the union, Stephan Szukalski. The DBV went into the negotiations, which began at the end of April, with a demand for 6.1 percent more wages. The negotiator for the employers’ association AVR, Peter Bottermann, spoke of a balanced overall package in a difficult environment. “With the conclusion, the consequences of rising prices will be cushioned to a significant extent for employees.”

The collective bargaining partners also agreed on improvements in part-time work close to retirement and an extension of the partial retirement regulations. The remuneration of the trainees will also be increased at the cooperative banks. There is a staggered salary increase for them by an average of 7.2 percent. The new wage agreement can be terminated at the end of 2024 at the earliest.

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