Revised Pay Offer at last minute 9% wage increase over next 3 years. We need your feedback ASAP

We need your feedback ASAP

P&N Bank has agreed to our claim for a guaranteed 3% annual wage increase as part of the proposed new enterprise agreement.

Following negotiations last week, management contacted the FSU on Friday and made the revised offer. The difference between the previous offer and the revised wage offer are as follows:

Year Previous Offer Revised Offer
2021 3%, back dated to 1 July 3% backdated to 1 July
2022 2% or CPI (capped at 4%), whichever is greater 3%
2023 2% or CPI (capped at 4%), whichever is greater 3%

We have also negotiated the following improvements:

FSU Claim P&N Bank response
Work from Home provision Agreed
Adequate staffing obligation Agreed
15 days paid Domestic and Family Violence leave Agreed
5 Days paid Natural Disaster Leave Agreed

PN Bank have proposed a further recalibration of their salary bands:

Current Proposed Bands New Proposed Bands
Min Max Min Max
$43,050 $53,523 $45,762 $56,199
$48,175 $64,227 $50,847 $67,438
$52,503 $74,932 $55,931 $78,679
$61,500 $90,988 $66,101 $95,537
$84,460 $112,397 $81,353 $118,017
$92,250 $160,567 $101,693 $168,595

Our next meeting with management is on Friday 24 September. As your negotiators we believe that the latest offer by management is fair and worthy of your consideration.  We need to hear from you before our meeting on Friday.  Send us your feedback before COB Thursday 23 September.

In Unity
Your FSU Bargaining Team

Mia Perring:
Laura Richards:
Diane Hawkins:

Authorised by Julia Angrisano, National Secretary