Bank and insurance wages resume strong increase

The wages of employees in the banking system and in insurance companies have resumed a strong increase, after a significant slowdown in 2006, shows data from the National Statistics Institute, analysed by ZF. For banks, the average monthly wage went up 24% in the first eight months of this year (in euros), almost twice as much as the increase in 2006 (of just 13%). For insurance, the wage increase in the first eight months of this year stood at 21% in euros, against 15% last year. Statistic data also shows that bankers’ wages saw a faster increase this year against those of employees in insurance (24% against 21%), as opposed to last year, when the hierarchy was reversed. The average monthly net wage reached 918 euros for banks and 529 euros for the insurance field (calculated as an average for the first eight months of the year). In comparison, the average monthly net wage on the overall market stood at 303 euros in the first eight months of this year.