Bank of Israel lowers pay for new workers

The Bank of Israel will pay new workers 30 per cent less than current employees, under an agreement reached between the central bank, its workers union and the Finance Ministry.

The average gross wage at the Bank of Israel is among the highest in the country at NIS 16,000 per month. The new agreement lowers the average monthly wage to NIS 10,000-11,000, which is still high relative to civil service jobs.

With this, the new workers will be hired under so-called generation B conditions, according