Brac Bank increases junior-grade salaries up to 50%

Brac Bank has recently increased the salaries of junior grade employees, SPO and below, by up to 50% from 1 January 2022.

With 7,500 Full-Time Employees (FTEs), Brac Bank is one of the largest employers in the Bangladesh banking sector. This new competitive compensation package is expected to further motivate the bank's existing coworkers and also enable the bank to attract more talent from the market.

The bank has significant growth plans over the next few years and is planning to recruit more than 1,800 new resources in 2022 alone to expand its foothold all across the country.

The bank has also begun an initiative to convert different outsourced teams to FTEs. One-hundred outsourced staff were absorbed earlier this month into FTE positions on the basis of their performance and longstanding contribution. More conversions as such are expected in the remainder of the year.

Commenting on these differences in people's initiatives, Brac Bank Managing Director and CEO Selim RF Hussain said, "Brac Bank has achieved strong growth in the last few years and today, leads the local banking industry in many metrics. This success is entirely due to our talented and committed co-workers, who are the true drivers behind our success. As a values-based organisation, the bank always prioritises benefit and welfare of the people. This new salary structure is aligned with our strategy to make the bank an employer of choice for the youth of our country."

Aside from direct compensation benefits, Brac Bank provides many different benefits to its coworkers including life and medical insurance, subsidised staff loans, day care, medical centre, commuting service, sports, and gym and canteen facilities.