It’s pay raise day for Dow Jones business journalists

The following was sent out by the Independent Association of Publishers’ Employees/The Newspaper Guild to its Dow Jones & Co. members, which includes reporters at The Wall Street Journal, Dow Jones Newswires, Marketwatch.com and Barron’s:

Today — Monday, July 1 — is the effective date for wage increases provided by our IAPE contract. Eligible employees must receive the largest of three possible pay hikes: a 2% compensatory increase, a $20 per week minimum-dollar increase (for employees currently paid less than $1,000 per week), or a scale increase for employees progressing through our introductory scales.

And if your manager wants to pay you more as a merit increase, there’s nothing in the contract that prevents her or him from doing so.

While new rates of pay take effect Monday, you won’t see a change in your take-home pay until at least the July 25th pay date, or maybe even later in August. However, retroactive payments will be made at that time.

We would also like to take this opportunity to remind you all that this week’s holidays — Today is Canada Day and a holiday for IAPE represented employees working in Canadian cities and Thursday is Independence Day for those of us working in the United States — are both recognized by the IAPE contract. If you are assigned to work on your holiday, make sure you file for your extra compensation.