Credit Suisse said yesterday that it had agreed 2005’s salary negotiations in Switzerland and agreed on 2 per cent of payroll as the sum ava...

Credit Suisse said yesterday that it had agreed 2005’s salary negotiations in Switzerland and agreed on 2 per cent of payroll as the sum available for individual and performance-related salary increases as of April 1, 2006. The bank said the provisions apply to those employees in Switzerland who are subject to the Agreement on Conditions of Employment for Bank Staff, up to and including those at assistant vice president level. Presumably Credit Suisse is making more money available for its senior managers and its staff outside of Switzerland?