Connect with us


Maybank Employees Are Getting a 10% Salary Increase in 2019


Maybank Employees Are Getting A 10% Salary Increase Starting January 2019 - World Of Buzz 2
Source: Today Online

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

If you or someone you know is a Maybank employee, it looks like this year is going to be a good one!

According to The Star, Maybank Group introduced one of the highest salary adjustments in the Malaysian banking industry after signing its unions’ collective agreement (CA).

This means members of the bank’s in-house office unions (Maybank Class One Officers and Association of Maybank Executives) will receive a 10 per cent salary hike across the board. According to The Edge Markets, these unions represent executive to senior executive levels and the junior officer levels.

Employees’ salaries will be adjusted to the maximum amount listed in their salary ranges for their respective designations.

Maybank Employees Are Getting A 10% Salary Increase Starting January 2019 - World Of Buzz

Source: maybank

This is the first time both of these unions have had a joint signing with Maybank’s management. The CA is running between 1st January 2018 and 31st December 2020.

Maybank Group Chief Human Capital Officer, Nora Manaf was quoted by the New Straits Times as saying,

“I am grateful for the strong partnership we have between the unions, employers, and industry-level alliances. The mutual respect, common goals, high integrity and strong values shared will continue to anchor this partnership and lead us towards stronger collaboration in the future.”

“This collective agreement is also a reflection of Maybank’s commitment to remain true to our founding principles which is to uphold the welfare of the employees who have contributed immensely to the growth of the organisation.”

Apart from the salary hike, employees can also enjoy a 30 per cent increase in Personal Accident and 25 per cent increase in Term Life insurance coverage.

Maybank Group will also be reviewing employees’ staff housing loans, reducing its interest rates from 3.5 per cent to 2 per cent. This will take effect this year.

What do you think of this move? Let us know in the comments below!


Also read: All Cabinet Members Will Get 10% Salary Cut to Reduce Govt Expenses, Tun M Says

Tun M: 10% Salary Cuts For All Pakatan Harapan Ministers - World Of Buzz

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Just In

Collage 3 5 Collage 3 5
News20 mins ago

523 Covid-19 Positive Individuals & Those Ignoring Home Quarantine Identified In Kedah

After more than a year of fighting the pandemic, some people are still violating the SOPs by endangering the lives...

Ppcc Ppcc
News3 hours ago

PM: B40 Households To Receive Self-Test Kits & Oximeters From Govt In Covid-19 Care Package

Prime Minister Datuk Seri Ismail Sabri Yaakob announced yesterday (19 September) that the government will allocate over RM471.6 million to...

Khairy Jamaluddin Booster Shot Khairy Jamaluddin Booster Shot
News3 hours ago

KJ: Booster Shots Expected To Be Given To High-Risk Groups Starting October

Many countries have started giving booster shots to their citizens and it seems like Malaysia is next to follow suit....

Wee Ft Wee Ft
News1 day ago

Transport Minister: More Public Transport Expected To Operate At Full Capacity Next Month

As Malaysia moves into the Covid-19 endemic phase, more public transport is expected to operate if domestic tourist destinations are...

Rnr Rnr
News1 day ago

Almost All R&Rs Along PLUS Highway Have Reopened, Those Fully Vaccinated Allowed To Dine In

As Klang Valley moves on to Phase Two of the National Recovery Plan (NRP), more rest stops (R&R) have also...

Picture 1 3 Picture 1 3
News1 day ago

The UK Eases Restriction On Fully Vaccinated Travellers From Malaysia

Fully vaccinated Malaysians are among travellers from 17 countries allowed to enter the United Kingdom (UK) without having to go...

Road Closure Simpang Pulai Cameron Highlands Road Closure Simpang Pulai Cameron Highlands
News1 day ago

Simpang Pulai Road To Cameron Highlands Closed Indefinitely Due To Landslide

Federal Route FT 185 Section 43.9 at Jalan Simpang Pulai-Blue Valley heading to Cameron Highlands was completely closed to all...

Khairy Surprise Visit To Kajang Khairy Surprise Visit To Kajang
News2 days ago

Health Minister Makes Surprise Visit To Kajang Hospital In Plain Clothes & Without Any Entourage

Malaysian Minister of Health, YB Khairy Jamaluddin paid a surprise visit to Kajang Hospital, today. Photos of the surprise visit...


Latest Videos