The Boston Symphony Orchestra (BSO) recently wrapped up a new three year collective bargaining agreement (CBA) that flies in the face of the Chicken Little Think Tank sky is falling doctrine. Normally, we wouldn’t spend time looking at what amounts to a typical contract with standard improvements but given the recent concessionary agreement in Philadelphia, it seems appropriate to examine some of the contract provisions.
Here are the contract highlights:
- Wages (three percent increase per year): 2011-12, $132,028; 2012-13, $135,980; 2013-14, $140,088.
- Pension (Private): Increases $2,000 to $77,000.
- Orchestra Size: Unchanged at 101 members.
It is worth noting here that not only did the BSO keep the existing defined benefit pension plan but they actually increased the annual payout. That’s an extraordinary event in light of other larger budget orchestras ditching their defined benefit plans in favor of defined contribution alternatives.
After inserting the BSO’s recent changes into last week’s chart (and editorial cartoon fodder) on the competitiveness of larger budget orchestras to attract and retain top talent it appears that that the BSO, at the very least, is going to hold its own (the BSO, in green, has been highlighted).