BNZ base pay rates lag behind the industry

Reaching upThe BNZ has a very different pay system to the other banks. BNZ staff can move to 100% quickly where as other banks have a service component to their pay systems which means their salary gradually moves up over time. However the benefit of moving to 100% quickly is eroded over time as staff in ANZ National and Westpac can usually move to a higher 100% mark.

That is why Finsec is seeking is to introduce a new service step after 5 years that staff automatically move up to. This step will align the top of the BNZ scale with the best pay in the industry and also encourage and recognise service with the bank.

For example when a Banking Advisor at BNZ reaches 100% of his or her base salary he or she is on $47,743. A comparative role, such as a Banking Consultant 2 at National Bank gets $56,262 and a Home Loans Specialist at Westpac gets $58,500.

In banking operations back office roles it’s a similar story. Someone working in a credit cards role at BNZ can expect $42,282 at 100% of their salary range. By comparison a Discharge Officer at ANZ National would be on $57,620 at the their salary band and a similar role at Westpac gets $58,000.

(thanks to confusedvision for the photo)

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