The Swiss Bank Employees’ Association (SBPV) is entering wage negotiations in fall 2026 with a demand for a demonstrable 2.5% increase in the overall payroll. Bank employees earning up to 120,000 Swiss francs a year should receive at least an additional 2,000 francs annually, the association said in a statement Friday.

The demand is based on the argument that purchasing-power losses in 2022 and 2023, when inflation rose sharply, have only been partially offset. In addition, higher health insurance premiums are not included in official inflation figures, the association said.

Higher Productivity Should Be Rewarded

The proposed pay increases are intended to preserve employees’ purchasing power and ensure that they appropriately share in the banks’ success. They should also compensate employees for higher productivity, the association said.

New digital technologies, including artificial intelligence, are helping banks operate more productively. At the same time, several financial institutions have been cutting staff or are continuing to do so in an effort to reduce costs, the association said.

The demands were approved following consultations with elected employee representatives. These representatives negotiate wages with employers at individual banks. The SBPV recommends that they seek increases of this magnitude while taking into account the economic situation and specific circumstances of their respective banks.

Banks should also disclose the criteria they use to distribute additional compensation funds. Employees and staff representatives should be able to understand who receives a pay increase and why, the association said. Banks should also review their salary bands and raise them where necessary.

Strong Earnings Should Also Benefit Employees

The half-year results for 2026 show that most banks have once again exceeded the already strong results they posted a year earlier, the association said.

This applies across different types of banks, from Raiffeisen to cantonal and regional banks as well as private banks. Switzerland’s largest bank, UBS, has also continued to report strong profits quarter after quarter.