Banks are getting a huge raise for executives: their salaries will rise by 20,000 euros.

MILAN – A four-figure pay raise for bank executives. The unions Fabi, First Cisl, Fisac Cgil, Uilca , and Unisin have reached an agreement with the Italian Banking Association (ABI) . to increase the remuneration of approximately 6,500 executive employees.

First increase of 15 thousand euros

The minimum wage will increase from €65,000 to €85,000, representing a €20,000 increase, equivalent to 31%. A first substantial increase of €15,000 (+23%) will be recognized starting August 1st, with the minimum gross annual wage then rising to €80,000. The agreement reached today updates the salary levels after years of waiting and takes into account the profound changes in work organization, management responsibilities, and the pressures facing this professional group.

The other measures

In addition to the pay adjustment, new provisions have been introduced regarding sickness and maternity leave. Specific attention will also be given to training, with banks drawing more heavily on the Fondir interprofessional joint fund, ensuring training appropriate to the changes and innovations in the banking sector.