How’s your salary increment? These employees will get up to 18 pct salary adjustment!
Many friends would be happy with this news
There are many industries where it’s considered quite stable. Banks used to be categorised in this sector. Today, banks are also forced to transform. Retail branches are becoming fewer and the push for online banking has already reached tipping point. In fact, there are no banks which does not have a banking app today. It’s only a matter of whether it’s friendly enough or it’s not. However, those working in the banks would be happy with the below news. Imagine salary increment of up to 18 percent!
Article in themalaysianreserve.com National Union of Bank Employees (NUBE) has signed a collective agreement (CA) with the Malayan Commercial Banks’ Association (MCBA) for 2021 to 2023 in Kuala Lumpur today. This will give its members probably the best ever combined perks, including a 15% to 18% salary adjustment.
The agreement also provides the 15,000 clerical employees in Peninsular Malaysia a one month salary for their respective major festivals like Aidilfitri, Chinese New Year, Deepavali, Christmas and Vaisakhi.
The salary adjustment is the highest in the recent history of the National Union of Bank Employees (NUBE), with the exception of a 22% increase in the 1990s.
The minimum salary for the three categories of staff will increase to RM2,370 for the non-clerical staff, RM2,670 for clerical staff and RM3,130 for the special grade clerical employees.
The maximum salary for the three categories will see an uplift to RM4,002, RM6,054 and RM7,110, respectively. Do read the full article here: Article in themalaysianreserve.com
Moving forward and future proofing one’s future
Salary increments are awesome. Remember to use it wisely. Save some, spend some and invest some.
One close friend who’s working in the bank told me that when she started, she had 25 peers. Today, she had just around 10. As you can see the banks are also changing tremendously. Online banking growth meant fewer people would be going to the bank. In other words, banks do not need so many people, they also do not need so many branches and last but not least, if they want to thrive, they have to go online and be inside everyone’s smartphone.
Not many people wants to drive to a bank, try to find parking space and wasting time taking a number and wait. The article below showed almost similar situation as what my close friend encountered. The National Union of Bank Employees (NUBE) used to have 60,000 members. Today, it has just 15,000 members as per the article above. This tells us that future-proofing our financial future cannot just be with the salary incremenet negotiations yeah. Happy understanding and taking the right actions.
Property News Malaysia? Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER). Alternatively, Follow me on Telegram here.
Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. Else, follow me on Twitter here.
Next suggested article: When rates rise, buying falls, financial logic right?
You must log in to post a comment.