Bank of Ireland staff to vote on 4% pay increase

DCM Editorial Summary: This story has been independently rewritten and summarised for DCM readers to highlight key developments relevant to the region. Original reporting by Irish Times, click this post to read the original article.

Bank of Ireland has agreed a pay deal with unions recommending performance-linked salary increases of 4 per cent for staff.

The proposal, which only applies to employees covered under collective pay agreements, is subject to a staff ballot. The proposal has been agreed with the Financial Services Union (FSU), Unite, and Siptu.

Bank of Ireland said it is also increasing entry level salaries in the Republic from €29,000 to €30,000.

Bank of Ireland chief people officer Matt Elliott said: “After constructive discussions with all three unions, we are pleased to offer our colleagues clarity on proposed 2026 pay arrangements, which will now proceed to a ballot.

“As a leading employer we are committed to offering competitive reward and benefits, along with progressive career development, for colleagues across our group.”

The FSU said it will ballot its members in Bank of Ireland on the proposals, which include an increase to all bands.

“The breakthrough in negotiations which had stalled recently occurred when the agreed mediator intervened to put forward proposals which were accepted by both sides as a basis for moving forward,” the union said.

The proposals include a 4 per cent pay increase for bands one to three, split 2.25 per cent as fixed and 1.75 per cent as performance.

FSU industrial relation organiser Caitleen Desetti said: “Following difficult and drawn-out pay negotiations over the past three months, the mediator intervened to put forward a proposal, which the FSU has agreed to put to a ballot of our members.

“The decision to accept or reject the mediator’s proposal is firmly in the hands of our members.”

The ballot will open on February 23rd, remaining open for two weeks, closing at 4pm on March 9th.

The FSU will be hosting a number of meetings over the coming week to discuss the proposals with its members.