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HSBC staff: all-merit increases

Key details

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    • Pay award: 2.84% paybill increase for clerical staff;

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    • 3% paybill increase for managers

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    • Employees covered (nos.): clerical staff (30,000)

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    • and managers (9,000)

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    • Effective date: 1 April 2004

    HSBC Bank has awarded an overall increase of 2.84% in clerical salaries as part of an agreement with the finance union, Unifi. Individual increases ranged from nil to 14%, and were dependent on the position in the range and/or the individual's performance rating.