The union that represents business journalists at The Wall Street Journal, Barron’s and MarketWatch.com has initially proposed a 5 percent pay increase for each of the next three years.
The Independent Association of Publishers’ Employees is also asking for a minimum raise of $50 per week.
Negotiations between the union and Dow Jones & Co. on a new, three-year contract began last week. The new contract would take effect July 1, 2016.
Employees received a 2 percent increase last year when they ratified a one-year extension of the contract. They also agreed to a one-year extension in 2014. A four-year contract had been approved in 2010.
In its proposal, the company does not specify a pay increase it is willing to accept, but it does say, “We will bargain in good faith concerning the amount of wage increases within the context of the Company’s business plans and its need for flexibility.” The company’s proposal eliminates a cost-of-living adjustment to the contract.
Meanwhile, the company has proposed that employees pay for more of their health care costs.
Earlier this year, the union disclosed that compensation at the company showed that female employees made less than male employees in the same positions. The company has said it is reviewing the issue.
The company proposal also will make promotion to senior reporter discretionary, and eliminates the salary for the union president when that person is not a Dow Jones employee.
