The Financial Services Union, which represents workers in the financial and tech sectors, has launched a campaign calling for additional supports from employers to help staff cope with the soaring cost of living.
Companies are being urged to ensure there is a better balance in the sharing of profits and that employees receive support to help deal with their living expenses.
As part of the campaign, FSU members are being surveyed on how the cost of living is affecting them.
Gareth Murphy, head of industrial relations and campaigns with the FSU, said it is time for profitable employers to financially support their staff.
"Meeting the cost of home heating, essential foods and back to school costs among other items is becoming a hardship for many," Mr Murphy said.
"Pay increases have not kept pace with inflation and workers are concerned about their ability to pay bills and provide for themselves and their families," he added.
"The FSU is in discussions with all the main retail banks on this issue and will campaign hard to achieve what is a fair and equitable outcome for staff," Mr Murphy stated.
In February, Bank of Ireland agreed a 7.5% pay increase for staff over the next two years, while AIB in May agreed a pay deal that recommended a 10% increase over the next three years for non-manager staff.
