Financial organisation FinTrU awarded the majority of its approximately 750 employees a pay increase to combat the current of the cost-of-living crisis.
Effective from 1 July, employees will receive an additional £2,000 or €2,000 depending on their assigned location, or an additional 5% increase to their base salary, whichever is the greater amount. Any future FinTru employees will also have their pay adjusted accordingly.
This applies to all members of staff from entry level to senior vice president, including part-time employees, but excludes principals, executive and managing directors as they already have an enhanced executive benefits package, which includes the ability to buy equity in the business.
Darragh McCarthy, founder and chief executive at FinTrU, said: “At FinTrU, we heavily invest in our people as part of their professional careers, but we are also fully aware of the current inflationary situation globally and want to continue to support our employees. Therefore, FinTrU has taken the decision to increase salaries due to the present level of cost-of-living expenses across the global landscape.
“This off-cycle salary adjustment is completely independent of our year-end merit-based compensation process. FinTrU is performing exceptionally well and is in the financial position to implement this increase, with no bearing on compensation rewarded to our employees as part of our annual year-end process.”
Katrien Roppe, chief of staff at FinTrU, added: “As a business, FinTrU has a social purpose to create high-quality employment on a global scale. This decision to increase our employees’ salaries is something we are proud to do. FinTrU is in the position to be able to afford to do this due to the hard work and commitment shown by our people since our foundation in 2013. This is not lost on us, and we are delighted to support our employees in this fashion for their continued dedication.”