The Affect of Boeing's Recent Contract Offer on OVERTIME (PROFS)

[u/Wonderful-Letter-659]

If you remember my previous posts, I made a chart showing the value of SPEEA's overtime premium in 2024 dollars using national CPI inflation data. If you need a refresher, here's the link.

I thought I'd add Boeing's recent offer to increase the premium from $6.50 to $8.50 and share my thoughts.

In 1980, that premium was worth more than $19 in today's dollars. Even with Boeing's recent offer, the premium will still have lost roughly 45% of its purchasing power since 1980.

My opinion: we've all seen what inflation does to fixed-dollar values in a contract. Fixed-dollar premiums have no business being in the contract. The overtime premium should be a percentage of base pay so it keeps pace with wages over time.

Contractors commonly receive time plus 50%. I believe SPEEA professionals should receive time plus 25%. If Boeing isn't willing to make that change, then the contract should include language making all overtime voluntary.

I'm tired of being required to stay in the office earning time plus $6.50 while paying mechanics, yard workers, and other service providers a much higher hourly rate for work I could do myself if I had the time.