The Banking Association agreed on a new salary increase in the bargaining negotiations, which has generated expectations among workers in the sector about how much they will earn in November 2024. The increase will be 3.5% on the salaries of August and must be paid along with the salaries of October. With this increase, the banking sector accumulates a total adjustment of 101.6% in the first nine months of the year, bringing the basic salary above one and a half million pesos, including the participation for Income Tax.
Sergio Palazzo, leader of La Bancaria, celebrated the agreement reached for November 2024, which includes an increase in line with inflation. This improvement will also impact the bonus for Banking Day, celebrated on November 6 in Argentina, which raises the minimum to $1,295,892.40. The difference in the Consumer Price Index (CPI) corresponding to October for Banking Day will be paid with the salaries of November, credited at the beginning of December.
The agreed salary increase will cover all gross monthly remunerations and will include both conventional and non-conventional extras. The Banking Association emphasizes that with this new increase, workers will reach a minimum of $1,200,000 in November.
La Bancaria, led by Sergio Palazzo, has stated that companies will have to pay the difference between the accumulated inflation from January to September 2024 and the salaries of December 2023, taking into account the increases already granted in 2024. The increase of 3.5% on August salaries responds to this commitment.
