Ulster Bank Staff to Vote on Pay Proposals

Issued : 9 January 2018

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FSU has negotiated pay proposals in Ulster Bank for members in the Republic of Ireland and Northern Ireland. If accepted by Ulster Bank staff, these proposals will see a majority of staff receiving between 2% and 5% pay increases in April 2018.

 In addition to this, in last year’s pay round the Union rejected pay range proposals that the Company intended to implement in 2019. This pay proposal includes a commitment that the Bank will not implement any negative range changes without a further round of negotiations with the FSU later this year. 

 Senior Official Gareth Murphy, responsible for these negotiations, said:

 “We have concluded a set of proposals through direct talks with the Bank which, if accepted by members, will see a majority of Ulster Bank staff receiving between 2% and 5% pay increase this year. We also have achieved a further opportunity to negotiate on disputed pay ranges. These have been tough negotiations but we feel these proposals are the best we can achieve with Ulster Bank at present.  A ballot of members will commence on Wednesday 10th January and conclude on Friday 26th January.   

 “We believe these pay proposals are broadly in line with other unionised employments. In contrast, pay in the non-unionised finance sector can often be shrouded in mystery for staff with highly individualised, subjective pay systems which no one is allowed discuss. Staff in Ulster Bank have the chance to influence and vote on clear and transparent pay increases and that is a very positive feature of unionised employment. They also get to see, influence and vote on their pay ranges which can again, in other employments, be held as secret by HR departments.”

 FSU General Secretary, Larry Broderick, said “FSU is regaining decent pay increases for members across the banking and finance sector.  These wins are achieved through tough, professional negotiations. We have a way to go and our focus in 2018 will be on securing pay increases, protecting terms and conditions,  taking on issues such as work-related stress and radically transforming the culture within banking. “