Compare Westpac management’s EA pay position to FSU members’ position
What will be the difference after two years?
Veronica works as a senior Customer Care Operator and currently earns $70,000 a year.
Currently |
1 Jan 2023 |
1 Jan 2024 |
Difference |
|
FSU members’ proposal |
$70,000 | $74,200 | $78,652 |
-$3,304 |
WBC Management’s proposal |
$70,000 | $72,800 | $75,348 |
Compared with FSU members’ cost-of-living pay proposal, Westpac management’s EA proposal would leave Veronica worse off by $3,304.
Niko works as a Branch Manager and currently earns $95,000 a year.
Currently |
1 Jan 2023 |
1 Jan 2024 |
Difference |
|
FSU members’ proposal |
$95,000 | $100,700 | $106,742 |
-$5,468 |
WBC Management’s proposal |
$95,000 | $98,325 | $101,274 |
Compared with FSU members’ cost-of-living pay proposal, Westpac management’s EA proposal would leave Niko worse off by $5,468.
Priya works as an I.T. Specialist and currently earns $120,000 a year.
Currently |
1 Jan 2023 |
1 Jan 2024 |
Difference |
|
FSU members’ proposal |
$120,000 | $127,200 | $134,832 |
-$14,832 |
WBC Management’s proposal |
$120,000 | $120,000 | $120,000 |
While Priya may receive a discretionary base salary increase over this period, it is not guaranteed under management’s EA proposal.
When comparing both proposals for guaranteed pay increases in the EA, Priya would be worse off by $14,832.
What about management’s $1000 cash payment? Here’s a few facts.
- Management’s cash payment doesn’t contribute to Veronica’s, Niko’s or Priya’s base salary as outlined above.
- Management’s cash payment does not contribute to compounding increases in the years to come.
- Management’s cash payment does not make any contributions to each of their superannuation funds.
Westpac can do better! Will you vote NO if management put their pay proposal to an all-staff ballot? Support the campaign here:
