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Telephone Banking Pay Worth Less Now Than In 2004!!!
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Date: 2nd May 2007
In April, the Pay Rates in Telephone Banking were increased, with most Advisers automatically receiving set increases in their pay.
But despite these pay rises, many staff may have been feeling that over recent years their pay hasn’t kept track with increases in their bills and living expenses. And they would be right!!!
That is because Senior Management have chosen not to ensure Pay Rates keep track with inflation, meaning that salaries are worth less now than they were three years ago.
Since April 2004 when Advisers at the ‘Effective’ Level were paid £13,600, Pay Rates have increased by just 6.8% (to £14,520 now) whilst inflation has increased by 10.7% over the same period.
In other words Telephony Pay is now worth 3.9% less than it was three years ago.
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