The RBA has warned staff they may not be back paid if they vote down a pay deal that would give top economists $14,000 more over three years.
The Reserve Bank of Australia has warned staff they may not receive back pay if they reject a proposed 10.5 per cent pay deal the Finance Sector Union has slammed as inadequate.
A mid-level economist at the RBA earns between $81,000 and $128,800. The RBA’s proposal would provide an employee at the top of the band a $14,000 pay rise over three years.The deal mirrors the Albanese government’s 10.
“The bank should be open to hearing from workers and listening to their feedback, not shutting it down or forcing ultimatums,” she told theThe optics of the central bank offering a more generous deal would be challenging, given outgoing RBA governor Philip Lowe’s repeated warnings that widespread pay rises higher than 4 per cent would be inconsistent with the central bank’s 2 to 3 per cent inflation target.
“Workplace delegates are also welcome to share contact information should employees wish to discuss bargaining matters with them directly, which they have done,” the spokeswoman said.