Thousands of Commonwealth Bank employees have voiced their discontent over a proposed pay increase, with many reporting financial struggles that could lead to homelessness. Over 3,000 staff members have signed a petition demanding a more substantial raise, according to the Finance Sector Union (FSU).
The FSU stated that the current pay offer would result in an increase below the rate of inflation for the first year, impacting approximately 71 percent of the workforce. The union further claims that 47 percent of employees will receive no guaranteed wage increase or a raise of only 2.5 percent over the next three years.
Employees have shared accounts of their precarious financial situations. "I could face homelessness if I get one large medical bill, or any unseen expenses. I can't afford to keep up with my medications," one employee stated. Another commented, "Most people think being a bank manager would mean I earn good money, but the truth is I don't think I will ever be able to buy a home on this salary." Some are considering taking on second jobs.
FSU National Secretary Julia Angrisano criticized the bank's offer, asserting that it exacerbates the pay disparity between management and workers. "I want Matt Comyn to read the thousands of comments we've received and tell everyone that he is okay with how his employees are faring," Angrisano said. "We should not have working poor in Australia but that is exactly what we are seeing at CBA."
This employee backlash comes as CEO Matt Comyn's compensation has significantly increased. He earned $7 million in the 2025 financial year and $9.1 million in the 2026 financial year. These figures contrast sharply with the financial realities described by many staff members.
In the same period, Commonwealth Bank reported a record full-year profit of $10.98 billion. The bank highlighted its performance, noting that its five core areas—home lending, business lending, consumer finance, household deposits, and business deposits—had grown or were above average for the first time. The bank stated this was a unique achievement among major Australian banks in the past 15 years.
In response to the petition, a Commonwealth Bank spokesperson said, "Our people are at the centre of CBA's success and the outcomes we can deliver for our customers and communities." The spokesperson added that the bank has presented a "comprehensive proposal covering pay and a range of other employment conditions" and is continuing negotiations, expressing a desire to "reach an outcome."