Media releases

The Finance Sector Union (FSU) is advising RBA staff to once again VOTE NO to this paltry pay offer that is insulting and disrespectful to its workers.

FSU National Secretary Julia Angrisano said staff should send a strong message to the RBA when the vote opens on November 28 and reject Bank’s miserly increase which is 0.7% more than its last offer.

“RBA staff and their families are under the same cost of living pressures as everyone else and they are not immune to increasing costs for rents, mortgages, energy and utilities,” Ms Angrisano said.

“Staff at the RBA rejected an inadequate pay offer in August and are now being asked to approve another poor pay offer.”  

“Pay rates across the financial services sector exceed the RBA’s offer.  

“It is shameful that RBA Executives, such as the Governor, have provided themselves with an increase this year reportedly of more than 10%.”

“They have done this while refusing to provide the same courtesy to their employees whose pay has remained in limbo since that time.”

“RBA staff are feeling angry and undervalued by being denied a decent pay rise.

“It’s time the Bank understood that it will fail to attract and retain staff unless the pay offer is substantially improved.”

“And the Bank is insulting its workforce by refusing to back-date the wage rise to September when the new agreement was supposed to start.”

“The RBA won’t guarantee that staff members won’t be worse off under a future review of RDOs.”

“It has also refused to include working from home arrangements in the EA.”

Ms Angrisano said the Australian Public Service has offered its employees a new Enterprise Agreement with better conditions, including the right to work from home. The APS has also offered to start the EA in the pay period before Christmas, not next March when the increase would normally be due.  

“This is great for APS workers but underlines what a poor deal is being offered to RBA staff. The bank’s claim in an email to staff that its offer is in line with the APS can’t be substantiated.”

“We have told our members they should not be deceived by the RBA’s claims and that the Bank is trying to pull the wool over their eyes. This is not good enough and RBA workers deserve a better deal.”  

“The current pay offer is totally disrespectful and fails to value the important work and the enormous contribution made by RBA staff to keep our economy strong.”  

“Our message to RBA staff is to vote no and send a strong message to the RBA that their pay increase is not OK and needs to be substantially improved.”

Media contact: John Hill-0412 197 079