Union members in Ulster Bank to ballot on pay agreement.

Issued : 8 January 2021

Press Statement from the Financial Services Union

Union members in Ulster Bank to ballot on pay agreement.

Union members in Ulster Bank are to be balloted on pay proposals negotiated between the Bank and the Financial Services Union (FSU). The ballot will open on Wednesday 13th January and close on Friday 29th January.

According to Gareth Murphy, Head of Industrial Relations and Campaigns with the FSU, the main proposals will see a majority receiving over 1.75% with a significant minority of staff in the pay matrix receiving over 3% of an increase. Ranges overall have moved up by 1.5% and an increase in entry level pay to €29,025, an increase of over 3%.

“Our members have been extraordinary this year. They have gone above and beyond in maintaining essential services for customer and communities. In the current environment, particularly with the uncertainty around the long-term future of Ulster Bank in the Republic of Ireland we feel the proposals represent the best that could be achieved, and we are happy to put the proposal to our members for ballot” stated Mr Murphy.

Only Ulster bank members who are members of the Financial Services Union will take part in the ballot which is happening under the cloud of the strategic review currently underway in the Bank.

“There are a number of outstanding issues which also need to be addressed which include a review of future pay structures and issues relating to parents leave. These discussions will start later this month and are not part of the current agreement “concluded Mr Murphy.



Main proposals

  • Pay proposals being balloted upon by union members.
  • Ballot will be open Wednesday 13th and conclude on Friday 29th
  • Ranges moving up by 1.5%
  • New entry level pay of €29,025.
  • A performance and range- based pay matrix.
  • 57% in the matrix will get at least 1.75% of an increase.
  • 32% in the matrix will get over 3% of an increase.
  • Further discussions to be held on increased pay for parents leave.


Contact: Brian McDowell, Head of Communications and Public Affairs, FSU. Tel: 087-9161225. Email: [email protected].


About FSU: The FSU is Ireland’s leading union across banking and finance. We represent thousands of staff across the main retail banks, and we have members in more than 70 companies across the finance and fintech sectors. Our members are spread across the Republic of Ireland, Northern Ireland, and Great Britain. We are headquartered in Dublin and we also have a presence in Belfast. We are members of the Irish Congress of Trade Unions and UNI Global finance union.