Paychecks Set for Significant Increases Starting September 1: Who Will Benefit?
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Significant Salary Increases for Italian Bank Workers
On September 1st, approximately 260,000 Italian bank employees will notice a substantial boost in their paychecks.
This pertains to workers at ordinary credit banks under ABI, as well as those at BCC banks.
The recent contract renewal has introduced significant salary increases aimed at compensating for the lost purchasing power due to inflation over the past years.
According to the contract renewal signed by ABI and trade unions including FABI, FIRST, FISAC, UILCA, and Unisin, an average gross increase of €435 has been established.
However, as seen in other sectors, like the commerce sector, the maximum increase will apply gradually.
Salary Breakdown for ABI Bank Workers
For the approximately 260,000 ABI bank employees, the new contract guarantees an average gross increase of €435, which will be fully effective by March 2026.
Initially, a portion of this increase was already acknowledged, with an average net increase of €250 implemented last December, representing 57.5% of the total increase.
This September, paychecks will include an additional gross increase of €100, equating to 23% of the total expected raise.
According to FABI’s projections, the new salary structure will look as follows:
- Fourth Level Executive (QD4): Salary: €5,045.85; Seniority Increments: €95.31; Former Restructuring Amount: €14.30
- Third Level Executive (QD3): Salary: €4,297.64; Seniority Increments: €95.31; Former Restructuring Amount: €14.30
- Second Level Executive (QD2): Salary: €3,871.28; Seniority Increments: €41.55; Former Restructuring Amount: €7.99
- First Level Executive (QD1): Salary: €3,653.43; Seniority Increments: €41.55; Former Restructuring Amount: €7.99
- Third Professional Area, Fourth Level: Salary: €3,256.90; Seniority Increments: €41.55; Former Restructuring Amount: €7.99
- Third Professional Area, Third Level: Salary: €2,986.15; Seniority Increments: €41.55; Former Restructuring Amount: €7.99
- Third Professional Area, Second Level: Salary: €2,821.13; Seniority Increments: €41.55; Former Restructuring Amount: €7.99
- Third Professional Area, First Level: Salary: €2,676.62; Seniority Increments: €41.55; Former Restructuring Amount: €7.99
- Unified Area (Former First and Second Professional Areas): Salary: €2,420; Seniority Increments: €29.07; Former Restructuring Amount: €5.59
After September, a remaining 20% increase will still be due, allocated across two more phases: a €50 increase expected in June 2025 and the final €35 increase set for March 2026.
Salary Increases for BCC Bank Workers
In the case of BCC workers, the first salary increase from the renewed contract will also take effect in September.
Similar to ABI, the ultimate average increase will be €435 monthly.
However, the distribution differs.
The September increment will yield an immediate €300 addition to monthly pay.
Following this, another €60 will be granted in January 2025, and a final increase of €75 will be effective in January 2026.
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