Bank of Estonia to raise wages 2%

28.12.2012, 12:31

Estonian central bank Eesti Pank said its personnel costs in 2013 will grow 5.5% from 2012 to EUR 8.6m, announced the bank.

Basic wages will be increased by 2% from 2013.

The bank raised wages also in 2012, by 4%. It was the first time that wages went up since 2008.

The bank said that after the wage increase, its salaries will be comparable with those paid in the Tallinn financial sector.

The wage increase will not apply to wages of the management board that are determined by the supervisory board.

At the same time, the central bank will cost foreign travel and office costs by 3.2% to EUR 1.1m.

The bank’s 2013 budget will be EUR 20.2m which will be 2% more than in 2012.