Reserve Bank of Australia staff have endorsed a three-year enterprise agreement, following a second vote that closed last Thursday.
In August, a majority of RBA staff voted down the bank's initial offer.
In late November the RBA broke off negotiations with the Finance Sector Union and put a revised and improved pay offer to a ballot.
The RBA said that in the second vote, 64 per cent of eligible employees who voted supported the new agreement. In August, 57 per cent of staff voted against.
The pay offer comprises:
- 4 per cent from the first full pay period from commencement of the agreement;
- 3.7 per cent from the first full pay period in September 2024; and
- 3.5 per cent from the first full pay period in September 2025.
In addition, a one-off payment of A$1000 gross will be made to all employees who are covered by the agreement and who were employed at the time the EBA was put to a vote.
The salary increase will apply from the first full pay period after last week's vote.
The one-off payments will be paid before the end of the year.