3% Pay Increases – An End to Individual Contracts – Union Wins at CBA

Over the last 12 months, I have been working hard to reset our relationship with the Commonwealth Bank under their new CEO Matt Comyn.

This work has built on the relentless efforts of our CBA members and representatives. They agitated courageously for improved wages and conditions, and a seat at the table, and I pay tribute to their efforts.

I can report to you that we have made very significant strides in recent months.

The Commonwealth Bank has:

  • Agreed to enter into negotiations about a new enterprise agreement;
  • Agreed to paid time meetings;
  • Offered a 3% pay increase (for staff on the EA); and critically,
  • Agreed to cease offering individual work contracts for staff.

For many years, the Finance Sector Union has strenuously resisted the use of individual agreements, preferring instead the broader protections and enhancements that can be negotiated through enterprise agreements.

We believe individual arrangements increase complexity, lack transparency, and disempower staff.

Over recent months, we have been in constructive discussions with CBA executives about the best ways to work together into the future to make sure the bank continues to be prosperous, and treat staff well.

To these ends, the Finance Sector Union and the CBA have agreed on new consultation arrangements that will improve the flow of information when significant changes occur. The Finance Sector Union will be better able to provide advice and support to members because of these arrangements.

If you have questions or want further information about any of the above, please don’t hesitate to get in touch with our member rights centre on
1300 366 378.


In Unity,
Julia Angrisano


Contact Details

Finance Sector Union
Ph: 1300 366 378

Authorised by Julia Angrisano, National Secretary