Salary systems in Finansforbundet’s agreements
Here you are given an overview of the different salary systems that are agreed in the Finansforbundet’s standard agreement, company agreements, special agreements and FinTech agreements.
The standard agreement’s (STOK's) salary system
Companies who are members of the Finanssektorens Arbejdsgiverforening (FA) are typically covered by the STOK for individual companies who have entered into a company collective agreement (VOK) instead, and individual pension and insurance companies that are covered by the framework agreement for insurers or the Finansforbundet’s collective agreement.
See which companies are members of the FA and thereby covered by the STOK
In the STOK salary system, salaries are agreed individually between company and employee. They must reflect the individual’s performance, qualifications, education and skills, as well as the content and responsibility of the position.
All employees are entitled to an annual salary dialogue.
The minimum monthly salary excluding the employer’s pension contribution is:
- DKK 25,000 as of 1 July 2021
- DKK 25,500 as of 1 July 2022
Employees who have an independent work organisation may be employed on a fixed salary if their monthly salary excluding employer’s pension contribution is at least:
- DKK 53,000 as of 1 July 2021
- DKK 54,060 as of 1 July 2022
Employees who earn the following monthly salary and above, excluding employer’s pension contribution, dependants' leave, sixth holiday week and special holiday bonus may be employed on an individual contract.
- DKK 70,000 as of 1 July 2021
- DKK 71,400 as of 1 July 2022
Remuneration for young people under the age of 18 is at least 60 per cent of the STOK’s minimum salary.
Remuneration is made in accordance with the general rules of the SCA from the first day of the month in which the employee turns 18.
The minimum salary for young people under the age of 18 is:
- DKK 15,000 as of 1 July 2021
- DKK 15,300 as of 1 July 2022
General salary increases for the STOK 2020-2023
The Finansforbundet has agreed on the following general salary increases for the duration of the collective agreement:
- 2.00% in 2020
- 1.20% in 2021
- 1.00% in 2022
Salary pools STOK 2020-23
A newly introduced measure also means that the following local salary pools have been agreed in STOK. The salary pools are:
- 0.80% in 2021
- 1.00% in 2022
With the exception of contractual employees, the local salary pool will be implemented on the basis of the company’s payroll with effect from 1 July each year. If the company does not have a professional representative, the local salary pools will be converted to general salary rises for everyone, i.e. all employee’s salaries are adjusted by 2.00% in 2021 and 2.00% in 2022.
The company may at any time choose to implement the salary pool instead of the local salary pool in the form of general salary increases for all employees.
In the event that an agreement on the distribution of the salary pool cannot be reached between the local parties, mediation shall be conducted with representatives from FA and Finansforbundet. The result of the mediation shall be put to the vote among the members of Finansforbundet at the company. If the members reject the result of the mediation, the salary pool will be distributed in the form of general salary increases for all employees.
Are you a student?
For students, salaries are determined on an individual basis. However, the salary shall at least correspond to the salary determined by way of collective agreement in the field of education; see § 55, paragraph 2 of the Danish Vocational Education Act.
STOK 2020-2023
Please contact your union representative or Finansforbundet if you would like further information concerning the STOK salary system.
Corporate collective agreement (CCA) salary systems
Finansforbundet has entered into collective agreements (CCA) with individual companies that are non-FA members. CCAs typically include their own tailor-made salary systems. You can see what companies this refers to below.
Finansforbundet (Financial Services Union Denmark)’s company collective agreements (CCA):
Danske Bank (in Danish)
Finanssektorens Uddannelsescenter (in Danish)
Velliv kun foreningen af overordnede (FOV) (in Danish)
Ringkjøbing Landbobank (in Danish)
General salary increases and salary pools for CCAs 2020-23
Finansforbundet has agreed that the combined general salary increases and salary pools for the period of 2020- 2023 should at least be the following.
General salary increases CCAs:
- 1.20% in 2020
- 1.20% in 2021
- 1.00% in 2022
Salary pools CCAs:
- 0.80% in 2020
- 0.80% in 2021
- 1.00% in 2022
Please contact your union representative or Finansforbundet if you would like further information concerning your company’s salary system.
Special agreement salary systems
If you are employed in one of the companies listed below, you are covered by one of Finansforbundet’s special agreements. Special agreements are agreements with companies that are non-FA members.
Please contact your union representative or Finansforbundet if you would like further information concerning your company’s salary system.
Finansforbundet has concluded special agreements with the following companies:
FinTech agreement salary systems
Companies who are members of the Arbejdsgiverforening for FinTech (AF) are covered by the framework agreement for FinTech companies that was concluded between AF and Finansforbundet. In addition to the Framework agreement we are also concluding a local agreement with the individual FinTech companies.
The FinTech company’s salary system or principles for grading salaries is described in the local collective agreement.
You can see which FinTech companies Finansforbundet has concluded agreements with below. If you have any questions concerning your company’s salary system, then please contact Finansforbundet.
Finansforbundet's FinTech company agreements:
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