Boeing Releases Final Contract Offer with 34% Wage Fund Increase
Boeing has released its final four-year contract offer to over 16,000 engineers and technical workers represented by the Society of Professional Engineering Employees in Aerospace. The proposal includes a total wage fund increase of 34% over the life of the contract, with a guaranteed 10% wage hike effective October 2.
The average base salary for employees in the professional unit would rise from $152,000 to $208,000, while technical workers' salaries would go from $119,000 to $163,000. The company claims these figures are $11,000 and $8,000 higher than its initial offer, respectively.
Boeing's proposal also includes enhanced health care and retirement benefits, two additional vacation days, a new floating holiday, and three bereavement days. SPEEA's bargaining team is recommending that members accept the offer due to the increased guaranteed wage increases and revisions addressing working from home, career development, and workers with lower pay relative to their salary ranges.
The electronic voting period begins on September 24 and ends on October 1. Boeing vice president Ben Nimmergut said, 'We took the feedback we heard from our employees and SPEEA’s bargaining teams to deliver an offer with more value that includes guaranteed pay increases and a larger wage pool over the life of the contract.'