Business · Companies · 8 hrs ago
German private banks offer 4.2% pay rise over three years
Private bank employers in Germany offered a 4.2% pay rise in two stages over a 36-month period.
The first increase is planned for mid-2027.
Verdi is seeking a 6% increase in pay for workers.
The union also wants binding rules on artificial intelligence, including plans for staffing and worker training.
Employers rejected union demands for more paid time off instead of salary, stronger protection against dismissal and extra rules for introducing AI.
The offer is below Verdi’s pay demand, and the two sides have not reached an agreement.
Negotiations resume in Berlin on 23 November.
Employers in Germany’s private banking sector have offered a 4.2% pay rise over 36 months.
The increase is planned in two stages, with the first due in mid-2027.
Verdi is seeking a 6% pay rise and rules on the use of artificial intelligence.
The employers rejected union demands for stronger job protection and more options to exchange pay for time off.
The next round of negotiations is scheduled for 23 November in Berlin.
- Who
- Employers in Germany’s private banking sector and the Verdi union.
- What
- Employers offered a 4.2% pay rise over 36 months. Verdi is seeking a larger increase and protections related to AI.
- When
- The offer was reported on 2 November 2026; the first increase is planned for mid-2027.
- Where
- Germany; negotiations are due to continue in Berlin.
- Why
- The sides are negotiating pay and workplace conditions for private-bank employees.
Private-bank employers
Verdi
Pay
Private-bank employers
Offered a 4.2% increase over 36 months.
Verdi
Seeks a 6% increase in pay.
Artificial intelligence
Private-bank employers
Rejected additional rules on introducing AI.
Verdi
Wants AI use regulated, with binding agreements on workforce planning and training.
Employment conditions
Private-bank employers
Rejected stronger protection against dismissal and expanded options to exchange pay for time off.
Verdi
Seeks stronger job protection and more options to convert pay into time off.
Verdi held warning strikes to press employers to make an offer.
Employers offered a 4.2% pay rise over 36 months after the second round of negotiations.
The negotiations are scheduled to continue in Berlin.
- Pay offer
- 4.2% over 36 months
- First increase
- Mid-2027
- Verdi pay demand
- 6%
- Next negotiations
- 23 November in Berlin
3 sources
What people are saying
That is a fair offer in these challenging times
With the warning strikes in recent days, employees have made clear that they are not willing to be kept waiting any longer
Their demands must not lose touch with reality and lead to excessive burdens