27 July 2023

The Finance Sector Union (FSU) has reached in-principle agreement with the ANZ Bank on wages and conditions, the first time in seven years the bank has been willing to negotiate a new Enterprise Agreement.

The in-principle agreement includes a pay rise of 16.5 per cent over four years for workers earning up to $100,000 a year and guaranteed pay increases for higher paid staff.

FSU National Secretary Julia Angrisano said negotiations with the ANZ would not have been possible without reforms to industrial relations laws brought in by the Albanese Government.

“Bank workers at the ANZ were unable to negotiate with the bank which had refused to talk about improved conditions for the past seven years, instead ANZ workers were covered by an outdated and expired agreement,” Ms Angrisano said.

ANZ staff are expected to vote in September on an improved Enterprise Agreement offering competitive pay and conditions.

The improvements include:

  •                     Flexible working hours including work from home rights;
  •                     Transparency of salary increase budgets;
  •                     Right to dispute individual salary reviews;
  •                     Leave benefits reflecting ANZ’s diverse workforce;
  •                     Ability to raise staffing and workload issues.

“We are pleased that after seven years ANZ has finally come to the bargaining table and respected our member’s democratic rights. We are pleased that there will be industry matching pay increases and modernisation of an outdated EBA,” Ms Angrisano said.

Media contact John Hill 0412 197 079

Authorised by Julia Angrisano, National Secretary