Bank officials seek major pay hike

THE Irish Bank Officials Association says its members are seeking a major pay hike to bring their salaries back into line with those earned in the civil service.

At the IBOA’s biennial conference at the weekend, economist Colm Rapple presented a study which showed workers in the banking profession were earning around 10% less than civil service equivalents. He said they would need a 15% pay rise to restore them to their relative position of 10 years ago.

Larry Broderick, general secretary of the IBOA, said his members had watched the directors of the big banks receive 30% annual pay hikes while his members received just 3.6%.