Santander Technology pay upTelecoms & Financial Services, Santander March 6 2018
Members in Santander Technology (formerly ISBAN and Produban) have overwhelmingly accepted a CWU-brokered pay deal that has secured across the board rises of 2.3 per cent from March 1 for the vast majority of CWU-represented grades.
Only those on the lowest (IP) performance rating and some senior managers are not automatically included – but those on an IP rating whose performance has improved by mid-year will receive the award in September, backdated to July 1 instead of March 1.
Senior managers in Engineering salary bands of ‘Manager 2’ and above (grade D and above in Platforms) will receive 50 per cent the award automatically, with the remaining 50 per cent being distributed at managerial discretion.
The 2018 pay settlement – which was accepted by 82.3 per cent of those voting in an 81 per cent turnout – also sees the introduction of a
new £500 ‘Flexible Benefits Allowance’ for all Consultant 1,2 & 3 grades, Senior Consultants in San Tech (Engineering) and F & G grade staff in San Tech (Platforms).
The package, which is flat rate, and therefore worth the same cash sum to full-timers and part-timers alike, mirrors an identical payment that that was negotiated for lower-paid workers in Santander UK last September. The allowance – which can either be use to buy flexible benefits, such as additional annual leave or discounted products, or simply be taken as cash – will be paid in monthly instalments, starting in this month’s (March) pay packets.
Assistant secretary John East explains: “The £500 equates to a 1.5% pay rise for those on the average salary. Obviously it is worth more for those on less than average salary and part-time staff.
“The £500 allowance will be reviewed with us on an annual basis during pay negotiations.”
John concludes: “Taken a whole, this year’s pay settlement represents a real increase in cash terms for the overwhelming majority of our members in Santander Technology – something that is obviously welcome given the recent spike in inflation.”
For full details of the deal see Santander Group Bulletin issue number 05/18, which can be viewed here.