Swiss Bank Employees Demand 2.5% Pay Hike Amid Ongoing Inflation Concerns

The Swiss Bank Employees' Association (SBPV) is pushing for a 2.5% pay increase in the overall payroll for bank employees, starting from fall 2026. This demand is based on the argument that purchasing-power losses in 2022 and 2023 have only been partially offset by inflation, which rose sharply during this period.

According to the association, bank employees earning up to 120,000 Swiss francs a year should receive at least an additional 2,000 francs annually. The proposed pay increases are intended to preserve employees' purchasing power and ensure that they appropriately share in the banks' success.

The SBPV argues that higher productivity, facilitated by digital technologies such as artificial intelligence, has not been adequately rewarded. Several financial institutions have been cutting staff or continuing to do so in an effort to reduce costs, which is another reason for the association's demand.