Bank employees received another salary increase in line with inflation: how much they will earn starting in September

Bank workers will receive another salary increase in line with inflation (Photo: Reuters/Agustín Marcarian)The Bank Workers' Association agreed with business chambers on a 1.9% increase for September, which will raise the industry's starting salary to $2,552,560.34. And with the profit-sharing bonus of $73,786.55, total income will reach a record figure of $2,626,346.89. According to the announcement by the union led by Sergio Palazzo, the agreement establishes that the same salary mechanism (which raises wages according to the exact inflation figure) will continue through October, November and December, with the scope set out in the agreements signed so far. The collective bargaining negotiations will continue during the second half of January 2027. It was reported that the adjustment will apply to all gross monthly wages, whether regular, ordinary and total, both remunerative and non-remunerative, including conventional and non-conventional bonuses. With this adjustment, salaries have accumulated a 23.6% increase in the first nine months of the year compared to December 2025. Sergio Palazzo, head of the Bank Workers' AssociationFor Bank Workers' Day, moreover, both parties agreed that the minimum amount will be $2,275,519.25 and must be paid by November 6. In this way, bank workers' wages received another significant improvement, as the agreement to grant an increase tied to inflation remains in place. On the 6th of this month, meanwhile, the Ministry of Human Capital, through the Labor Secretariat, ratified the agreement signed by the Truck Drivers' Union and the business chambers, an official validation of the 9.9% increase in six installments through February 2027. Hugo Moyano, leader of the Truck Drivers' UnionThis emerges from a resolution signed by the national director of Labor Relations and Regulations, Mara Mentoro, which gave broad legal validity to the agreement reached by the union led by Hugo Moyano, which once again was in line with the government's wage guideline since it does not exceed projected inflation. The salary improvement, anticipated by Infobae, will be paid as follows: 1.8% in September, 1.7% in October, 1.7% in November, 1.6% in December, 1.6% in January and 1.5% in February. The agreement also includes a non-remunerative fixed sum of $18,000 for September and an annual bonus of $1,200,000, to be paid in 4 installments of $300,000 starting in January. The negotiation included an increase in the extraordinary employer contribution to the health insurance fund, which rose from $25,000 to $29,000 per month per worker. With nearly 190,000 members, the contribution represents approximately $5,510 million in monthly employer revenue for the union's health care entity. Labor Secretary Julio Cordero Meanwhile, as reported by Infobae, formal wages showed an improvement in August, but the evolution of purchasing power since the start of the current government shows marked differences across economic sectors. While the average salary of registered private employment managed to stand above the November 2023 level, the wages agreed in the main collective bargaining negotiations are still below it. According to preliminary data from the Argentine Integrated Social Security System (SIPA), the average salary of registered private employment rose 1.3% in real terms in August compared to the previous month, in the seasonally adjusted series. Meanwhile, the average remuneration of the main collective labor agreements advanced 0.9% in the same period. In both cases, the variations reflect an improvement in purchasing power against inflation. However, the balance since November 2023 shows different results. The average salary of the registered private sector stands 1.2% above that level, while that of the main collective agreements has accumulated a real loss of 6.9%. Formal wages showed an improvement in August, according to government statistics (Photo: Reuters/Francisco Loureiro) According to the Labor Secretariat, the trajectory of both series was also different. After the sharp drop recorded in December 2023 and January 2024, private sector wages began a recovery that allowed them to surpass the November 2023 level in September 2024 and reach a peak during the first quarter of 2025. Since then, they have gone through fluctuations, although as of August 2026 they retained a cumulative improvement. Wages negotiated in collective bargaining, on the other hand, advanced until early 2025, but from the second quarter of that year they entered a downward trend that they have not been able to fully reverse. The aggregate result, however, hides important differences across sectors. Among the sectors with the largest cumulative increases, sports entities stood out with a real increase of 15%, followed by the graphic arts industry with 13.2%. Restaurants and hotels, and pharmacies also showed significant gains, both at 11%.(Illustrative image Infobae)That group was joined by freight transport, security, building maintenance, meatpacking plants and the oilseed industry, which also achieved real improvements during the period analyzed. At the opposite end, the textile industry recorded the greatest loss of purchasing power, with a cumulative decline of 32% compared to November 2023. It was followed by commerce, with a contraction of 18%; passenger transport, with 13%; and building superintendents, with 12.1%. There were also setbacks in sectors with a significant share of formal employment. Healthcare, the metallurgical industry, food and construction accumulated declines of between 5% and 9% in real terms compared to the November 2023 level.