Ulster Bank staff in line for pay increase in 2015

Staff at Ulster Bank are set to get a pay rise next year, with managers also in line for a return to performance-related salary increases.

The bank announced a two-year pay deal for staff yesterday. As well as the increase for 2015, the agreement will see all staff below managerial level receive a lump sum payment before Christmas. The move, which will also see positive pay movements for Ulster’s Northern Irish staff members, represents the bank’s first pay increase for non-managerial level employees since 2011 and the first for managers for five years.

The bank said that the broad pay rise will be based on each employee’s position within the company and on their pay scale and performance. Regarding the return of performance-related pay reviews for managers, as of next year, the bank said these would be based on individual performance.