What do you think of ANZ's pay spin?

At the ANZ AGM yesterday, the Board faced your questions.

An overwhelming number of ANZ staff have asked for an explanation on pay and workloads. You wanted to know why, after everything that you have done this year, ANZ have determined your worth at just 0%-2%. And facing all of this work with less staff, not more.

Watch the response here.

When the Chair spoke about Executive pay he referred to it as a pay cut as it was less than last year. The truth is that CEO, Shayne Elliott, will this year receive a 16% pay increase which means his overall ongoing pay will increase this year by at least $400,000. This is 307 times more money than a staff member on $65k will receive after receiving the 2% increase. Does that sound like a pay cut to you?

On the other hand, when speaking about group 4, 5 and 6 staff getting less than last year, the Chair said that many people thought no increase should be provided at all and, instead, the 2% was a “generous offer”.

Do you think that’s a generous offer?

Let us know here.

If you have any questions about this, you can contact your FSU directly on 1300 366 378, or email

Authorised by Julia Angrisano, National Secretary