Bankers Agreed to a New Wage Increase Tied to Inflation: the Minimum Wage Exceeds $1.8 Million

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The Banking Association disseminated the new updated wage amounts for the workers of this union, which are established in a minimum having for a worker who just started at $1,872,937.28, a figure that integrates with a base of $1,807,619.92 plus a share in profits of $65,317.36.The union headed by Sergio Palazzo indicated in a statement that the new salary scale will be received retroactively by the workers of banks and financial institutions la…

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The Banking Association announced Monday the update of the salary scale for workers in the sector, establishing a minimum of $1,872,937.28 for staff who have just started their career in banks and financial institutions. The amount consists of a base salary of $1,807,619.92 plus a sum of $65,317.36 corresponding to the participation in the profits of the sector, as established in the current collective agreement.

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“It’s a living parity,” they explain from the union. And viva means that it moves at the rate of cost of living, avoiding straggled wages. The entry ‘'La Bancaria'' agreed wage increases tied to inflation: the minimum wage already exceeds $1.8 million was first published in #BorderPeriodismo.

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After it was announced that the June inflation at the national level was 1.6%, and the accumulated in the first semester of the year reached 15.1%, the union La Bancaria agreed with the chambers of the sector a new wage adjustment according to those figures, so now the minimum salary of the sector remained at $1,872,937.28. In the breakdown, the basic is thus located at $1,807,619.92, to which is added the "Participación Gananzas (ROE)" of $65,3…

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The union led by Sergio Palazzo agreed with the financial institutions an increase of 1.6% for the June salaries.