For you employed under an individual contract
Read guide for you who are offered or employed under an individual contract. You can also see a calculation overview that assists you on an individual contract to understand and compare your salary relative to the established salary limits under the company collective agreement.
As an employee at Danske Bank, you can either be employed under the company collective agreement or on an individual contract.
Below, you can read a guide for those who are offered or are already employed on an individual contract.
You can also delve into a calculation overview that assists you to understand and compare your salary relative to the established salary limits under the company collective agreement and helps ensure that your salary is in accordance with the applicable contractual terms.
Guide: All you need to know as employed on an individual contract
The starting point is that all employees at Danske Bank are hired under company collective agreement terms.
However, in the company collective agreement between Danske Bank and Finansforbundet i Danske Bank , it has been agreed that employees above a set salary limit can be offered an individual contract.
The salary limit is continuously adjusted in line with the contractual salary increases and was, as of July 1, 2024, at 77,350 DKK excluding the value of care days, extra holiday allowance, and the value of any reduction in the employer's pension contributions.
Read more in the calculation overview further down the page.
Yes, of course you can. Our legal experts only advise members employed at Danske Bank and are therefore familiar with the details of individual contracts.
We recommend that you contact our legal experts if you are offered an individual contract or would like to have your current individual contract checked.
And yes, as employed under an individual contract, you still have access to consultation and advice from our union representatives.
Your rights are the content of the contract plus any amendments to the contract. Additionally, general employment legislation applies, such as the Salaried Employees Act, the Holiday Act, and the Equal Treatment Act.
Salary increases often occur as a result of negotiations.
The salaries of employees under the company collective agreement are negotiated through collective bargaining.
On an individual contract, you must negotiate your salary and other terms individually.
Salary determination for contract employees occurs every year in January, so it would be a good idea to schedule your annual salary discussion before then.
Remember, you can get advice from Finansforbundet i Danske Bank before your salary negotation.
If the contract salary threshold increases more than your salary and you have fallen below the threshold again at the time of adjustment specified in the agreement, it is agreed in the collective agreement that a salary adjustment must take place, or that you must switch to collective agreement employment on job salary terms.
Read more in the calculation overview further down the page.
The time bank is discontinued upon transition, but you are still covered by the EU directive on a maximum of 48 working hours per week on average.
When transitioning to an individual contract, some elements from the company collective agreement will cease to apply, but their value will be capitalized and added to the salary. This includes care days, extra holiday allowance, and the value of any reduction in the employer's pension contributions.
It means that – when transitioning to an individual contract – some elements from the cpmpany collective agreement will cease to apply.
However, their value is capitalized and added to the salary. This includes care days, extra holiday allowance, and the value of any reduction in the employer's pension contributions.
All individual contracts can, in principle, be different. However, we typically see that the following elements are included:
• Pension contributions (though at a smaller percentage, but you can increase it yourself)
• 6th holiday week (converted to five holiday leave days)
• Right to annual salary dialogue
• Health insurance
• Dental insurance
• Group life insurance
• Child sick leave
• Leave for care of close relatives
• Full pay during maternity leave
• Child's hospitalization
• Leave for seriously ill child
• Leave for disabled child
All individual contracts can, in principle, be different. However, we typically see that the following elements are NOT included:
• Care days (capitalized)
• Extra holiday allowance (capitalized)
• Annual salary adjustment according to the collective agreement
• Severance pay
• Mitigation measures upon termination
• Senior part-time
• Child part-time
• Contributions to Finanskompetencepuljen
• Remuneration for on-call duties must be specifically agreed upon
• Time bank (settled upon transition)
As an employee on an individual contract, there are many benefits to being member of Finansforbundet i Danske Bank.
Our legal experts are experts at reading through individual contracts and can explain the terms to you, especially if you are not used to reading contracts.
You also have access to local sparring and advice from our union representatives, who are well-acquainted with Danske Bank and your area of work.
As a member, you also have access to additional membership benefits such as over 250 events, and you also have access to a range of cash membership benefits and can save money with your membership.
Get the guide as PDF
Use the calculation overview as a tool.
This calculation overview can help you as an employee on an individual contract to understand and compare your salary relative to the set salary limits under the company collective agreement, divided into net and gross salary limits. The guide can help ensure that your salary complies with the applicable contractual terms and the agreements of the collective agreement.
Company Agreement Salary Limit for Contract Employees (Net)
The net salary limit means that the employee, according to their contract, MUST be entitled to certain elements in addition to the monthly salary.
This means that if the contract states that the employee is entitled to care days, a 6th week of vacation, employer's pension contributions, and special vacation pay on top of the monthly net salary, then you can compare the contract's monthly salary with the company agreement’s salary limit to check whether the employee is above or below this limit.
Company Agreement Salary Limit for Contract Employees (Gross) The gross salary limit comes into play for you if your monthly salary includes payment for salary elements such as special vacation pay, care days, and the 6th week of vacation included in the monthly salary.
Here, the salary limit is adjusted by including the value of these elements, so you can compare your actual gross salary with the limits set by the agreement.
If your salary is below the set salary limit, or if you are unsure whether this is the case and want support to clarify your situation, here are some steps you can take:
Get in touch with your union representative
Your union representative can offer guidance and support and help clarify any questions regarding your salary, even if you are not employed under a collective agreement but have an individual contract.
Seek legal advice from Finansforbundet i Danske Bank
Finansforbundet i Danske Bank offers professional advice and can assist you with legal support if your salary does not comply with the agreed salary limits.
Network for Contract Employees in Danske Bank coming up
Are you interested in learning more and sharing your knowledge as a contract employee at Danske Bank? We have a network for contract employees at Danske Bank coming up.