Financial Times (FT) employees will receive above-inflation pay rises of around 2% from 1 April 2015.
Editorial staff will see their salaries increase by 2.2% for those paid up to £65,000 for the calendar year. This translates to 2.93% under its HR adjustment formula.
The pay deal, which was outlined in an internal email, also includes:
- An increase of 1.9% for those paid between £65,001 and £85,000. This translates to 2.53% under HR adjustment formula.
- An increase of 1.75% to those paid more than £85,001. This translates to 2.33% of HR adjustment formula.
The HR adjustment formula compensates staff for a shift in the pay cycle moving from calendar year to financial year. The current deal will stand until reviewed in April 2016.
The National Union of Journalists-brokered deal comes as the Financial Times has also agreed to pay editorial interns the national minimum wage.
A Financial Times spokesperson said: “Employing and retaining talent is at the heart of the FT’s success.
“We are investing in and continue to attract world-class journalists.”