Sumitomo Mitsui Banking Corporation, a major bank, plans to uniformly raise the starting salary of new graduates entering the company in April by 50,000 yen.

This is the first increase in starting salaries in 16 years.

According to people involved, Sumitomo Mitsui Banking Corporation plans to uniformly raise the starting salary of about 400 people who will join in April by 50,000 yen.



As a result,


the starting salary for university graduates is expected to increase from the current 205,000 yen to 255,000 yen, and


▽ graduate school graduates are expected to increase from 230,000 yen to 280,000 yen.



In addition, we are considering raising the salary of young employees at the same time so that the salaries of new employees will not be reversed.



It is the first time in 16 years since 2007 that Sumitomo Mitsui Banking Corporation has raised starting wages, and it will start coordinating with the labor union in the future.



In addition to responding to rising prices in Japan, it seems that the aim is to secure and retain excellent human resources amid intensifying competition to acquire human resources in the digital field.



Among financial giants, Mizuho Financial Group is also considering raising starting salaries next year, and there is a growing movement in the financial industry to improve the treatment of young employees.