Bank of Ireland Group announces new pay deal

Bank of Ireland has reached a proposed pay deal with the Financial Services Union which recommends salary increases for colleagues covered under collective pay agreements of 4% linked to performance. The deal is subject to acceptance through staff ballot.

The Bank has also announced a range of enhanced colleague supports:

• Extending Parents Leave offering in Ireland (ROI) to nine weeks’ paid Parent’s Leave, less any Parent’s benefit.
• Introducing, for the first time, nine weeks’ paid Parents Leave in all other jurisdictions.
• Introducing five days’ paid ‘Caring for Others’ leave in all jurisdictions.

Bank of Ireland also provided colleagues with an update on how it calculates and communicates its Group Performance Scheme, a discretionary bonus introduced last year for the first time in 16 years, which may be made annually depending on three main factors – business performance, how the Bank is delivering for all of our stakeholders, and the management of risk. The outcome is communicated to colleagues as part of the Group’s annual results announcement.

Bank of Ireland is also increasing entry level salaries in ROI from €28k to €29k.

Matt Elliott, Chief People Officer, Bank of Ireland said: “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. 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.

“We are also very proud to be enhancing our Family Matters policies and introducing new ‘Caring for Others’ leave. We know that at different times in their lives many of our people will have parenting or caring responsibilities, the demands of which can be significant. With these changes, we’ll be supporting these colleagues more while also evolving our employer offering, helping us attract and retain the diversity of skills and talent our company needs to succeed.”

ENDS