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The Bank publishes the following detailed information on its remuneration packages for staff covered by its EBA.

30 June 2004

Our employment Package – the Big Picture

Your employment package covers more than base pay. It also includes: pay and reward; extra employee benefits; personal development; and work/life balance.

Pay and Reward
A competitive base salary – including an increase of 4% effective 1 July 2004; increase in base salary directly flows on to other salary related payments; Performance Related Pay (PRP) in addition to base salary; annual free share grant (ESAP) provides eligible staff with the opportunity to receive grants of up to $1000 of free shares (over 80% of staff now have shares; shares received by staff reinvesting dividends since 1996 would have an accumulated value of $14,744.24); competitive superannuation benefits.

Extra employee benefits
Access to a range of banking and financial services at special rates; lifestyle benefits – season travel pass loans, offers for discounts at hotels and travel.

Personal development
On the job training, internal and external courses, coaching and mentoring, study assistance; opportunities for career progression.

Work/life balance
Part-time and job-sharing opportunities; leave arrangements include 4 weeks annual leave, long service leave, carers’ leave, leave without pay (including career breaks); parental leave, including 12 weeks paid maternity leave; Rostered Days Off (RDOs) with an annual cash-out option of up to 6 days; NEW opportunity to purchase up to 4 weeks additional leave per annum; NEW flexible access to long service leave.