The union for Broadway’s musicians announced a three-year bargaining agreement with producers today, a pact the union says features the largest wage increase in two decades.
The agreement was announced by the Associated Musicians of Greater New York, Local 802 AFM and marks a collective bargaining agreement with the Broadway League and Coordinated Bargaining Partners. According to 802, the deal features the wage increase, a 23% increase in healthcare contributions, and a new 401(k) plan.
“The Broadway League knows that a big part of their success is the ability to attract and retain the best musicians in the world,” said Adam Krauthamer, President of Local 802. “With this contract, they have solidified that bond.”
Under the new deal, members are entitled to a 3.5% wage increase in each year of the contract. The 23% increase in healthcare contributions will be phased in over the course of the contract.
The deal also includes an unprecedented 401(k) plan that will allow members to contribute up to a total of $19,000, or $25,000 at age 50 or older, to their 401(k) per year.
Additionally, the new agreement includes a provision allowing orchestrators to also serve as conductors and/or instrumentalists in shows where they have served in the same capacity Off Broadway or out of town for at least 50% of the pre-Broadway run. The collective bargaining agreement will be in effect until March 3, 2022.