You might have seen an email from BOQ Management claiming that their proposed increases are “fair” and that they are not wage cuts.
How is it fair that your salary will go backwards over the next three years, compared to increases in cost of living, while BOQ have just announced their yearly profits are up 15%?
How is it fair that BOQ CEO George Frazis received a 14% pay increase on his salary, bringing it up to $1.44 million for the last financial year?* Or that, on average, BOQ Senior Executives’ pay increased by just over 8% between 2021 and 2022?
*BOQ Annual Report 2022, Remuneration Report, based on Senior Executives’ “Salary and Fees” in FY 2021 and FY 2022. Average pay increases based on data for Senior Executives who completed full financial years in 2020 and 2021.
And how is it fair that BOQ management can tell us in one email update that their proposal was “tabled as a final offer”, and then in their next update complain about our union holding urgent meetings because they “still want to reach agreement at the table”?
How is a pay increase above the cost of living okay for BOQ executives, but a maximum of 4% “fair” for the rest of us?
If you think you deserve a real pay increase, just like your executives, commit to voting no if BOQ put their real pay cuts to a vote.
And if you’re not yet a member of your union, join here.
Together, we will push BOQ to do better.