FSU and Danske Bank agree enhanced pay deal for 2023

09 December 2022

Average pay increase for staff will be over 6%

The Financial Services Union and Danske Bank have reached agreement on an enhanced pay review for 2023 which will see an average pay rise of 6.2% for staff. The agreement is scheduled to come into effect from 1 April 2023.

The FSU and Danske had previously concluded a three year pay deal which was accepted by members in late 2020.  The pay increase which had previously been agreed for 2023 was 3%.

Commenting on the agreement Mandy La Combre, Senior Industrial Relations Officer with the FSU said.

“We have been in negotiations with the Bank for the last number of weeks and believe this is a positive outcome for our members. The original agreed pay deal for 2023 has been more than doubled and the entry salary will be increased from £18,300 to £20,225.

This enhanced pay review is an addition to the recent cost of living payment, also agreed by the FSU, which provides eligible G2 – G7 with £1000 payments and G8 with a £500 payment.

Bank staff, like everyone else are struggling with the cost-of-living crisis. This agreement will give certainty on pay for 2023 and together with the cost-of-living payment help financially support staff at a difficult time”

Commenting on the agreement John O’Connell, General Secretary of the FSU said:

“At a time when workers are struggling to pay their heating bills and see weekly shopping bills escalate it is important that profitable employers work with Unions to ensure that staff are financially supported.

This enhanced pay deal is very welcome and is something that the FSU will look to replicate across other employments.”