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ANZ boss tops salary survey but wants bank jobs insecure

Media release: FIRST Union
Monday 29 September, 2014

ANZ boss tops salary survey but wants to make bank jobs insecure

As ANZ workers vote on industrial action to protect job security at the country’s most profitable bank, ANZ’s chief has topped the list of CEO’s in the annual Business Herald executive pay survey, out today.

FIRST Union’s Retail & Finance Secretary Maxine Gay said that ANZ New Zealand CEO David Hisco earns 120 times more than the lowest paid bank worker.

“Last year David Hisco received a 14% wage increase, taking his pay to $4.17 million.”

“That’s $80,000 a week – more than most bank workers earn in a year.”

“Yet he is offering his staff a low pay increase and wants reduce security so workers would only know from one month to the next which days and start and finish times they are working.”

Maxine Gay said that call centre and back office workers employed prior to September 2010 are being offered a 2% + 2% wage increase over two years. For everyone else it is offering 3% and 2.75%. Just four months ago Westpac workers achieved a 3.4% per year increase for two years.

“ANZ are currently on track to beat last year’s $1.37 billion profit by 20%, but are unwilling to share this with its hard working staff who earned these high profits for the bank.”

“This low pay offer, and the attempts to casualise their jobs, is why ANZ workers are voting on a national strike ballot, and why some branches across the country have already taken local industrial action too,” Maxine Gay said.



Industrial action
A national strike ballot is currently being voted on by members of FIRST Union at ANZ, and some branches have already begun local strike action. It follows a second round of employment negotiations after 98.5% of members rejected the bank’s previous proposal. The national strike ballot closes this Friday October 3.

Salary analysis
David Hisco – $4.17 million per annum. (Source)
Staff: General banking – Lowest scale (Band 1, Step 1: $ 34,612). Highest scale (Band 7, Step 7: $ 79,139) (Source).

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