NAB staff may strike for first time in 20 years over ‘meagre’ pay offer

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Financial Services Union national secretary Julia Angrisano said workers were considering industrial action following the bank’s pay offer. The last time industrial action was taken at NAB was in 2001.

“NAB’s executives think their ‘business as usual’ model is good enough but our members are very disappointed that the bank refuses to acknowledge the overwork and understaffing crisis or the need for change,” said Angrisano.

The FSU says industrial action could include strikes, stop work meetings and overtime bans.

The FSU did not say how many NAB workers are union members, but said that it represents “thousands of members across every department and within all levels of NAB”.

Angrisano said NAB’s chief executive Ross McEwan received a 130 per cent pay rise in 2021, from $2.3 million to $5.3 million. “CEO salaries are out of control and McEwan and his executives are happy to take big jumps in pay and bonuses while telling workers they need to take a cut in real wages,” she said.

NAB’s executive of people and culture Susan Ferrier said a lot had changed in the workplace since the bank’s last agreement in 2016. “We are looking to modernise and put our trusted colleagues first by fairly rewarding them, supporting their flexibility, lifestyle and wellbeing, and introducing an extra week of leave and improved parenting leave entitlements,” she said

“NAB is working constructively with the Finance Sector Union and individual bargaining representatives as bargaining continues, so we can achieve an enterprise agreement that is simpler and more contemporary. Through bargaining, we intend to develop a new enterprise agreement that is endorsed by the FSU before it is put to colleagues for a vote.”

The negotiations come amid severe labour shortages across the country and a fierce battle for talent in the banking sector. The FSU will next meet with NAB on September 28 and 29.

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