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This is good news amid the Corona crisis: UBS wants to increase the fixed salaries of selected seasoned employees. These will benefit from an increase in fixed wages of up to 20 percent, writes the Bloomberg news agency.
Apparently this is to prevent them from migrating to the competition. UBS had concluded that basic salaries would differ in part from those of employees of other banks in comparable roles.
Stay competitive around the world
This led the bank to increase the fixed salaries of the selected employees. At the same time, the variable remuneration of these employees would be reduced.
UBS is periodically reviewing its total compensation structure, a bank spokesperson writes at AWP’s request on the matter. As a result, selective adjustments would be made to certain wages to remain competitive in the global labor market.
Variable compensation reductions
However, since the reductions would also be implemented for variable compensation, for example, the adjustments would have no overall impact on the bank’s overall salary costs. (pbe / SDA)
