The annual wage increases from (2003-2006), as seen in the e-mail from Steve London (below), are 0%, 2.5%, 2.75%, and 3.0%. Thus, the total compounded salary increase for that period is 8.5% (i.e.,1.025 x 1.0275 x 1.030 = 8.5%).

Steven London < SLondon@brooklyn.cuny.edu>
04/03/2006 07:53 PM AST

To: "' *****'" < *******@baruch.cuny.edu>
cc:
bcc:
Subject: RE: Your email about the contract




I don't understand. Do you think the union is holding out on you?
Management has the money, we don't.  Anyway, here is the retro
calculation:

1st year:$800 in cash to the WF.  This money is not on base.
2nd year:2.5% on base. (2% in cash to the WF and .5% to you as retro pay.)
3rd year:2.75% on base. (compounded 5.3% on base and 5.3% to you as retro pay.)
After three years, retro pay will be 5.8%.
4th year:3% on base. (compounded: 8.48%)
Last day of contract: $800 on base.
--Steve