The survey was part of a move by the FSU to open up a conversation among banking and financial services workers – irrespective of company or union membership – about work and life in the industry.

Unsurprisingly, there were many similarities in issues facing workers in the industry. But even a cursory reading of the results showed that there were significant differences also – and that these differences reflected the effect of the presence, or the absence, of a recognised trade union on pay and pay setting, employment conditions, and management behaviour.

• This report looks at some findings in four key areas:
• Pay and how it is set
• Pressure of work on individuals Pension provision and funding
• Life beyond the workplace

• Union recognition is closely associated with the receipt of regular pay rises.
• Fully 36% of workers in the non-union sample received no pay enhancement of any form (salary or bonus) in the previous year.
• Overall, a lack of transparency in pay setting is associated with the absence of union recognition.
• Overall, incentive pay arrangements operate less favourably in the non-union sector than in the union sector, and appears to discriminate against women in particular.
• For most women employees a union presence is associated with more equality in pay distribution.

• There is widespread concern over employers demanding unpaid work outside of contracted hours.
• In general, pressure to be available by phone or email outside work is common in the industry, but this is especially true in non-union settings.
• There is widespread concern among staff in both retail banking and financial services about under payment when acting up for absent colleagues.
• Work pressure is accompanied by a widespread belief that employers do not listen well to employees’ concerns.
• Notably, however, workers felt more secure in getting a fair response from employers where a recognised union was present.

• The presence of a recognised union is strongly associated with the availability of an occupational pension, and, still, with better quality defined benefit schemes
• Overall, the presence of a recognised union is associated with higher employer contributions to defined contribution schemes.
• Overall, women seem disadvantaged in terms of employer contributions, but union presence is associated with more equal outcomes.

• Housing costs, whether rent or mortgage, are a major call on net incomes in the banking and financial services sector.
• Workers in the sector face long commutes to work each day in comparison to the national average.
• Workers in the Irish banking and financial services sector experience below average satisfaction with work-life balance.