Thousands of staff at banking giant Santander are being urged to accept a pay deal worth 3.1%, union leaders announced today.
The Communication Workers Union said lower paid employees would receive higher increases, while some staff would receive a 5% pay rise.
Assistant secretary Nigel Cotgrove said: "It is the best pay deal so far in the UK retail banking sector in 2011 and is in the top quarter of UK pay settlements.
"At a time of great economic uncertainty the deal also boosts the position of the lower paid including a new minimum starting salary of £12,250."
Around 5,000 workers will be balloted over the next few weeks.Reuse content