Staff at Bank of Ireland to vote on 4% pay increase

Deal agreed between bank and the Financial Services Union

Bank of Ireland staff will vote on a proposed 4% pay increase linked to their performance under a deal agreed with the Financial Services Union.

Thousands of workers at Bank of Ireland will vote on a proposed 4% pay increase linked to their performance under a deal agreed with the Financial Services Union.

The proposed pay deal affects around 8,000 of the bank's 10,000 employees and is subject to acceptance through staff ballot. The deal also proposes enhanced benefits including extending parents' leave in Ireland to nine weeks’ paid and introducing five days’ paid care leave.

"Following constructive engagement with the Financial Services Union, we are pleased to be able to provide our colleagues with clarity on pay for 2025, which is now subject to acceptance through ballot," said Bank of Ireland chief people officer Matt Elliott.  "As a leading employer in Ireland with a strong international presence, we are committed to providing competitive rewards and benefits, as well as positive career development opportunities for all our colleagues throughout the group." 

Bank of Ireland plans to increase entry level salaries from €28,000 to €29,000. Last year the bank introduced a discretionary bonus for the first time in 16 years, which may be made an annual bonus subject to business performance.