Credit Suisse announces pay rises

Employers of the Credit Suisse financial services group in Switzerland are to receive pay rises of between 2.7 and 3.5 per cent from April 1 next year.

A statement from Credit Suisse on Monday said an agreement had been reached between representatives of the management and staff.

The increases are subject to the Agreement on Conditions of Employment for Bank Staff for individual and performance-related pay rises.

Under the terms of the accord, there will be a 3.5 per cent increase for employees with support, processing and specialist functions. A rise of 2.7 per cent will go to employees with a greater degree of specialist responsibility or a management function, and for senior specialists.

Credit Suisse added that, as before, bonuses may be awarded to employees for outstanding performance, regardless of rank and in accordance with internal guidelines.

Separate salary increase talks are taking place for Credit Suisse employees outside Switzerland.

swissinfo with agencies