AIB and FSU reach agreement on new pay deal

AIB and the Financial Services Union (FSU) have reached agreement on a pay deal for 2025 that includes pay increases ranging from 4% to 7% depending on an individual's grade, with a minimum €2,000 payment.

Also included is a €1,500 voucher and an extra day's paid leave for all staff.

Under the deal, entry level pay would increase by 7% to €30,000.

"The negotiations were concluded earlier this week and a ballot of union members in AIB will commence next Monday 2 December," said Billy Barrett, Senior Industrial Relations Officer with the FSU.

"The ballot will take place over a two-week period closing on December 16," Mr Barrett said.

"The FSU is recommending the agreement as it meets the criteria, we set at the start of negotiations for an inflation busting pay award and a pay award that helps our members with cost-of-living pressures," he added.

In a statement, AIB said the 4% pay increase for staff is subject to performance.

"This one year deal also brings conclusion to the legacy claim by the union for a return to a 35 hour working week," the bank said.

"In exchange, for the withdrawal of this claim, staff will receive a one-off tax free voucher to the value of €1,500 to be paid in early 2025 and an extra day of leave to be taken in calendar year 2025," the company added.

Other elements of the deal include ten days foster parent leave, the introduction of menstrual health supports, and a review of the bank's compassionate leave programme.

"AIB's greatest asset is its people," the bank's Chief People Officer David McCormack said.

"That's why we're pleased to propose a pay agreement which concentrates on the lowest paid in the bank, resolves the last of the legacy productivity issues and further enhances our suite of employee supports to enable AIB and our people to build a more sustainable future for our 3.3 million customers," Mr McCormack said.