Westpac drags the chain on pay

Westpac has mooted a pay rise of 3.25 per cent for many staff in Australia, but rises of only two per cent for its better paid employees.

 The bank's pay offer is lower than the claimed pay rise by the Finance Sector Union of 3.5 per cent for all staff.

 The FSU wants this rise, "whether packaged or unpackaged - and whether working in Westpac, St George or BT - with no preconditions about performance or anything else," according to an outline of negotiations by the union published on its website.

 Westpac has countered with a proposal for a tiered approach with different outcomes based on how much staff are currently paid.

 For staff earning up to A$75,000, the bank's offer is 3.25 per cent, "but only once staff pass gate openers around behaviours and compliance."

 For those earning between $75,000 and $100,000 the bank's offer is two per cent, again subject to "gate openers", with a top up rise "to be determined by managers".

 For staff earning between $100,000 and $140,000, the bank plans "a total spend of two per cent of the current salaries in a pool."

 "There is no individual guarantee, with outcomes between zero and significantly more than two per cent all possible," the FSU said in its briefing for members.