All articles tagged with #salary increase
The Detroit Lions have increased linebacker Alex Anzalone's 2025 salary by $250,000, making his base salary $6.25 million and guaranteeing it for the upcoming season, with additional incentives possible, as he prepares for the final year of his contract.
AI is causing significant layoffs in the tech sector but is also boosting salaries in non-tech industries by nearly $18,000 annually, as AI skills become highly valuable across various fields like marketing, HR, and finance, leading to a broader distribution of job opportunities and higher wages for AI-proficient workers.
Kansas football coach Lance Leipold has signed a new contract with an annual salary exceeding $7 million, solidifying his position as one of the highest-paid coaches in the Big 12. The agreement does not extend the length of his contract, which runs through 2029. Under Leipold's leadership, the Jayhawks have seen significant improvement, achieving their highest win total since 2007 and securing postseason berths. The university has also announced a $300 million project to renovate the football stadium and surrounding area, demonstrating its commitment to building a championship-caliber football program.
Faculty at California State University have ended their strike after reaching a tentative deal with the university system, securing a 5% general salary increase retroactive to July 2023, a 5% increase in 2024, a $3,000 raise for the lowest-paid faculty, and an extension of the current contract to June 2025. The strike, involving over 30,000 professors, librarians, and other workers, was prompted by the California Faculty Association's demand for higher wages. The agreement also includes improvements in parental leave, protection for faculty dealing with police, and support for lecturer engagement in service work.
A recent study conducted by Access Partnership and Amazon Web Services reveals that workers with AI skills can expect a salary increase of at least 30%. The study surveyed employers and employees across various industries and found that IT, sales and marketing, and operations departments are likely to see the highest pay bumps. Employers estimate that IT workers with AI expertise could receive a 47% salary increase, followed by sales and marketing teams at 38%. The research highlights the increasing value of AI skills in the workplace and the potential for productivity improvements.
Milbank has announced its annual year-end bonus scale for associates, matching last year's bonuses for each class. In addition, the firm will increase the base compensation for all associates by $10,000 starting January 1, 2024. This move goes against predictions of economic uncertainty in the industry and positions Milbank as a compensation leader. Other Biglaw firms will be closely watched to see if they can match this additional cash and remain competitive.
Fresno Unified and the Fresno Teachers Association (FTA) have reached a tentative agreement just one day before a district-wide strike deadline. The new contract includes a 21% salary increase over 3 years, reduced classroom sizes, comprehensive special education caseload guidelines, investment in Arts education and student well-being, and a commitment to having a school nurse on every campus. FTA union members will vote on ratifying the agreement, and officials assure parents that a strike will not happen.
Musicians of the Philadelphia Orchestra and the Philadelphia Orchestra Association have ratified a three-year collective bargaining agreement that includes a 15.8% increase in minimum salaries. The agreement, which covers September 2023 to September 2026, includes salary increases of 6% in the first year, 4.5% in the second year, and 4.5% in the third year. The deal also requires management to increase the number of musicians hired each year and ensures payment for substitute and extra musicians if their engagements are canceled with less than two weeks' notice. The contract eliminates a lower rate of overtime for playing movies and provides two days of rest after most Sunday concerts.
The four-month-long labor strike at Newmont's Penasquito gold mine in Mexico has ended after workers and the company reached a deal to increase salaries. Both parties agreed to an 8% salary raise, retroactive to August 1, which is lower than the initial proposal by the union. The agreement also includes a 10% employee profit sharing for this year and a provision for the miner to pay two months' salary to workers if it fails to report profits. The strike resulted in a significant decrease in gold production and incurred operating costs for the mine.
Bank of America plans to raise its minimum hourly wage to $23 in October, with the goal of reaching $25 by 2025. This increase translates to a minimum salary of nearly $48,000 per year for full-time employees. The move is part of the bank's ongoing efforts to provide competitive compensation and improve employee benefits.
Durham Solid Waste workers will end their week-long strike and resume garbage collection, stating that they are doing it "for the citizens." The workers are demanding a cost-of-living increase and a $5,000 bonus, citing overwork and low pay. While the city has used contractors to assist with trash collection, most routes are still being handled by city workers. Two-thirds of solid waste workers were back on the job as of Friday, and city leadership continues to meet with the workers.
United Airlines has agreed in principle to raise pilot pay by up to 40% after reaching an agreement with the pilots' union, addressing ongoing labor issues in the sector.
Sacramento restaurateur Chris Jarosz dies in a Highway 50 crash; arson cases are on the rise in Sacramento County, but most arrests do not end in convictions; fast-moving water resulting from weeks of Sierra snowmelt is creating dangerously fast currents on NorCal rivers; Sacramento County Board of Supervisors approve a roughly 36% salary increase for themselves; House Republicans pass a bill to block Biden's student loan forgiveness program.
Monolith Soft, the developer behind Xenoblade Chronicles, has announced that it will increase salaries for all employees, including new graduates starting this year, in line with rising prices. The move comes after the release of Xenoblade Chronicles 3's story DLC, Future Redeemed, which ties together all previous games in the series. Monolith Soft has assisted Nintendo on multiple first-party titles and will also be involved in the upcoming The Legend of Zelda: Tears of the Kingdom.
The Los Angeles Unified School District and the teachers union have reached a tentative labor agreement that includes a 21% salary increase and reductions in class sizes. The agreement also includes additional pay increases for special services providers, special education and early education teachers, and nurses. The contract, covering 2022-25, still needs to be ratified by UTLA members and the LAUSD Board of Education. The agreement eliminates the possibility of another potential work stoppage.