Boeing Offers Revised Contract with Higher Wage Funds to Avert Strike
Boeing has released its full contract offer to over 16,000 engineers, scientists, and technical workers represented by SPEEA (Society of Professional Engineering Employees in Aerospace) ahead of a union vote. The company framed this proposal as a response to the rejection of an earlier deal in August and the authorization of a strike.
The revised four-year contract offer includes 34% in total wage funds over its life, with 26% fully guaranteed for every represented employee. A 10% guaranteed wage increase would take effect on October 2 if the deal is ratified, followed by annual wage pools running at 4%, 6%, 6%, and 6% each year, with a guaranteed minimum of 4%. All money in these pools must be spent on SPEEA members.
Average base salary for professionals would grow from $152,000 to $208,000, an increase of $11,000 over the initial proposal. For technical workers, average base salary would rise from $119,000 to $163,000, or $8,000 more than initially proposed.
The company has also updated its estimates of where average pay would land. Boeing said that it took feedback from employees and SPEEA's bargaining teams to deliver an offer with more value, including guaranteed pay increases and a larger wage pool over the life of the contract.