Striking machinists at Boeing will vote Wednesday on a new contract proposal that includes a 35% pay hike over four years.
The union listed a series of key tenets of the deal, most notably a 35% general wage increase spread over four years, including 12% in Year 1, 8% in Year 2, 8% in Year 3 and 7& in Year 4. The union had been seeking a 40% raise. Boeing initially offered a 25% raise before coming up to 30% in a previous offer.
A contract ratification vote is expected this upcoming Wednesday, 23 October, the International Association of Machinists and Aerospace Workers (IAM).
Boeing will also pay a one-time bonus of $7,000 when the contract is ratified. That is an increase from the previous offer of $6,000.
Boeing has said that average annual pay for machinists is currently $75,608.