Unite the Union

Unite the Union

October 15, 2007 07:05 ET

Barclays Pay Offer Sets the Standard

LONDON, UNITED KINGDOM--(Marketwire - Oct. 15, 2007) - Unite, Britain's biggest union, has negotiated a market leading pay offer with Barclays covering 48,000 staff. The offer bucks the trend in the banking industry, where many employees have been receiving below inflation pay deals.

Following tough negotiations over a period of three months, the union received an offer of a 3 year deal which amounts to RPI plus 0.9%, subject to a maximum of 5% for each year of the deal.

This offer means, from the 1st April 2008, over 80% of staff covered by the deal will receive an above inflation pay increase. The average salary for a Barclays employee is Pounds Sterling 16,500.

Unite, national officer, Keith Brookes says,

"This is a market leading deal which raises the bar for the banking industry. It means the vast majority of Barclay's employees will get an above inflation pay rise in each year of the 3 year deal.

Banks make vast profits but they often try to pay staff as little as they can get away with. Barclay's are bucking this trend and giving their staff a fairer share."

Contact Information

  • Ciaran Naidoo
    07768 931 315