BB sets minimum salary for entry-level banker jobs

For the first time in the country’s history Bangladesh Bank (BB) has fixed the salaries for entry-level jobs at private banks.

In a circular issued on Thursday the BB said the new pay package for bankers will be effective from March 1 this year.

An entry-level officer will get a minimum Tk 28,000 per month during the probation period and the amount will increase to Tk 39,000 after completion of the probation period.

Gross salaries for support staff will not be less than Tk 24,000 per month. Payments for outsourcing have to be set in line with the supporting staff, BB said.

The central bank also said remunerations of other bankers have to be determined logically in proportion with the CEO.

“But no employee will get less than what he/she gets now,” BB said in the circular. “No bank can set a deposit target for job confirmation or annual increment,” it said.

The central bank also said promotions cannot be halted in the name of inefficiency and failure to achieve the target.

However, the circular will not be applicable for agents at agent banking outlets.

The BB’s decision may cheer up job seekers, but senior bankers, including chief executive officers, got surprised to see the circular.

“All banks are not of the same quality. Good banks offer relatively better remuneration to hire talented employees,” said a CEO of a leading private bank requesting not to be named.