The Verdi union and the employers have agreed on a collective agreement for the 60,000 employees of the public banks. According to Verdi, salaries will increase by a total of 11.5 percent in three stages from November 1st. Junior employees should receive a total of 350 euros more per month.
Verdi said the agreement was reached late on Thursday evening in the third round of negotiations. It is therefore planned that, in the first step, employees’ incomes will be increased by 6 percent from November. In view of the high inflation of the past few years, this will bring noticeable relief for employees, explained Verdi negotiator Jan Duscheck.
In further steps, an increase of 2.8 percent on November 1, 2025 and a further 2.7 percent on November 1, 2026 are planned. The collective agreement applies to employees of 63 institutions, including the state banks and development banks of the federal and state governments, and runs until January 31, 2027. At the same time, it was agreed to begin discussions on a new pay structure and a modern and life-stage-oriented working time structure , says Duscheck.
The managing director of the Federal Association of German Public Banks, Dominik Lamminger, said that the first base increase in salaries of 6 percent was a noticeable salary increase and was recognition for the employees in very difficult conditions. In recent weeks it has been noticeable that the employees are urgently waiting for an agreement. With the degree you have fulfilled your responsibility.
Recently there have been repeated strikes at public banks in several federal states, including Berlin. Verdi had originally demanded 12.5 percent more money, but at least 500 euros more. The Verdi collective bargaining commission recommended that union members accept the outcome of the negotiations; they can vote on it by the end of October.
Broadcast: Radioeins, October 11, 2024, 1 p.m
