FSU and Danske Bank agree enhanced pay deal increase

The deal, which emerged from a recent enhanced pay review, is scheduled to come into effect on April 1 2023.

The union and Danske, which is one of the biggest banks in Northern Ireland, had previously concluded a three year pay deal which was accepted by members in late 2020. The pay increase which had previously been agreed for 2023 was 3%.

Commenting on the agreement Mandy La Combre, senior industrial relations officer with the FSU, said: “We have been in negotiations with the Bank for the last number of weeks and believe this is a positive outcome for our members. The original agreed pay deal for 2023 has been more than doubled and the entry salary will be increased from £18,300 to £20,225.

“This enhanced pay review is an addition to the recent cost of living payment, also agreed by the FSU, which provides eligible G2 – G7 with £1000 payments and G8 with a £500 payment.

“Bank staff, like everyone else are struggling with the cost-of-living crisis. This agreement will give certainty on pay for 2023 and together with the cost-of-living payment help financially support staff at a difficult time”

John O’Connell, general secretary of the FSU, added: “At a time when workers are struggling to pay their heating bills and see weekly shopping bills escalate it is important that profitable employers work with unions to ensure that staff are financially supported.

“This enhanced pay deal is welcome and something that the FSU will look to replicate across other employments.”

The Financial Services Union is the leading Trade Union representing staff in the financial services, fintech and tech sectors. They have membership in over one hundred companies and are organised in the Republic of Ireland, Northern Ireland and Great Britain with headquarters in Dublin and a presence in Belfast.