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Benefits

At Bank of Melbourne, we believe reward is about more than just pay.

There are benefits that have a financial value – like fixed pay and our Employee Share Plan – but there are also many ‘non-salary’ benefits that we offer such as recognition, development and career opportunities, supporting neighbourhood involvement and work flexibility.

Bank of Melbourne has a genuine commitment to providing our people with industry leading employment benefits and initiatives to ensure they are in control of their own financial wellbeing.

Rewards for hard work

Bank of Melbourne is part of the Westpac Group. Under the Westpac Group's Employee Share Plan, Westpac shares can be allocated to eligible Bank of Melbourne employees, every year, providing certain Westpac Group performance targets are met. The Employee Share Plan (ESP) is a reward scheme that provides eligible employees with the opportunity to become a Westpac shareholder for the first time, or to add to their existing shareholding.

Make your reward go further

Eligible Bank of Melbourne employees can salary sacrifice. This means you can take certain benefits – such as vehicles, airport lounge membership and superannuation contributions – as pre-tax items. This can be a great way to increase your disposable income and better manage your finances.

Helping with your retirement – superannuation

Bank of Melbourne employees are able to choose their own superannuation fund or the default Bank of Melbourne staff fund which offers a wide range of investment options that include specialist fund managers and insurance cover at wholesale premium rates. Staff superannuation is professionally managed. Benefits include online access to account information and investment switching, a wide range of investment options, competitive fees and a member help line. Conditions apply to some of these benefits.

Your Benefits

Family benefits

Bank of Melbourne recognises that balancing your work life and home life can often be challenging. That’s why we’ve implemented a Lifestyle Benefits program that allows you and your family to enjoy special rates and deals on travel, shopping and entertainment. We also provide:

  • Thirteen weeks paid parental leave and additional unpaid parental leave
  • Flexibility in how parental leave is taken, over a two-year period
  • Grandparental leave to support the critical role of Grandparents in the care and development of children
  • Free information on childcare, family care and eldercare services
  • Opportunity to return from parental leave on a part-time basis until your child starts school.

Also, in difficult and challenging times, Bank of Melbourne makes confidential counselling services available to you and your family at no cost.

Third Party Benefits

Bank of Melbourne employees and their families can enjoy a range of lifestyle benefits from our external partners including:

  • Discounts on movies and entertainment, including concerts and sporting events
  • Discounts on communications and internet access
  • Discounts on health insurance and green products
  • Discounts with online shopping providers
  • Special rates on holidays, car rental... and many, many more

Our Social Clubs

Bank of Melbourne employees can join one of our many social clubs. Social clubs provide access to an additional range of discounted merchandise, travel and entertainment offers, functions and sporting activities organised specifically for employees and their friends throughout the year.

Benefits of banking with Bank of Melbourne

Bank of Melbourne employees can access a range of banking benefits, including:

  • Special employee deals on home loans, credit cards and personal loans
  • A fee-free transaction account
  • Savings on financial products and services including margin loans, insurance and investment products and financial advice.

Protection against unexpected events in life

Eligible employees are covered by a Salary Continuance (Temporary Disablement) policy, an income protection-style policy that is paid for by Bank of Melbourne.

Flexible work to suit your lifestyle

At Bank of Melbourne, we support employees looking to change their hours of work. We’re also supportive of those interested in entering a job share arrangement. We’re always willing to help arrange something that suits you. We encourage employees over 55 years old to consider flexible working hours if they are interested in extending their career. Conditions apply to some of these benefits.

Your Wellbeing

Keep fit and healthy

Bank of Melbourne’s Lifestyle Program includes gym membership discounts and tools to help with your health and wellbeing.

Help the environment and community

We encourage our staff to make environmentally conscious decisions. That’s why we offer our staff interest-free loans on green purchases such as rainwater tanks, energy and water efficient appliances and solar hot water systems.

We also encourage staff involvement in activities that help local neighbourhoods and environment. If you want to participate in one of these activities, we’ll arrange time off for you to volunteer for a not-for-profit organisation.

Help with work or personal problems

For employees experiencing difficulties at home or work, confidential assistance and information is available to help you through our Employee Assistance Program.

Need some time off work?

Bank of Melbourne provides a range of flexible leave options, which include:

  • Access to thirteen weeks paid parental leave
  • Entitlement to unpaid parental leave
  • Flexibility in allowing employees to take parental leave in separate blocks over a two-year period
  • Opportunity for employees to acquire additional leave to cover for childcare in school holidays, travel, study etc
  • Entitlement to twelve days personal/carer’s leave each year
  • Access to study leave
  • Option to apply for volunteer leave to help the wider community and environment
  • Opportunity to take career breaks by structuring your salary so you can work for four years and take the fifth year off with an income.

Help planning for your future

Planning for your future is important. When making decisions about salary packaging, superannuation or the purchase of financial products you should seek professional financial advice. Bank of Melbourne has a large network of qualified Financial Advisers who provide competitive rates for our staff. Conditions apply to some of these benefits.

Your Success

Bank of Melbourne helps employees take control and manage their career decisions with a sophisticated, award winning online learning website where face-to-face workshops, self-study modules and e-learning programs are delivered to your work or home PC.

Applying for another Bank of Melbourne Group job

We advertise vacant positions internally. This provides you with access to career opportunities within Bank of Melbourne and the broader Westpac Group.

Work-related study

Our Education Assistance Scheme can provide financial help with tuition costs and registration fees. We can also provide paid study leave. Conditions apply to some of these benefits.

Volunteer Leave

Bank of Melbourne employees are entitled to at least one day of paid leave per year to volunteer during normal working hours. Activities that will be considered for community volunteering leave include volunteering for:

  • Charities
  • Community organisations
  • Community sporting organisations
  • Environmental organisations
  • Schools