Whither Merit Pay?

Several IAPE members have asked about the possibility of receiving a merit pay increase, and whether Dow Jones has instituted restrictions on merit raises. A review of Dow Jones pay data from the last quarter shows 33 IAPE-represented employees received additional pay adjustments after our negotiated pay increases were issued last year. Most of those were related to promotions and other job changes, though some appear to have been actual merit raises.

That’s a surprisingly low number of pay hikes for deserving top employees -- less than 3% of IAPE membership -- given reports of the company’s performance, and that “Dow Jones had its largest quarterly profit since News Corp acquired it in 2007.” Still, those data show salary adjustments do still happen at Dow Jones. Nothing in the IAPE/DJ contract restricts management’s ability to increase your compensation at any time.

With the end of the fiscal year in sight, members have started to have 2021 merit pay conversations with managers. Some have asked for an IAPE pay review to help prepare for those discussions. An IAPE review is a great way to see how you compare to peers with the same title, working in the same department, location and even age range.

If you’re thinking of asking for a merit raise this year, consider an in-depth look at your rate of pay before meeting with your manager. Email payreview@iape1096.org for assistance.

Did You File For Holiday Pay?
We hope you all had a chance to enjoy your long weekend, whether you had Presidents’ Day off here in the U.S., or you’re one of our members in Canada who celebrated Family Day. For those of you who were required to work on Monday, remember, you’re entitled to Holiday Pay!

Articles VIII-A and VIII-B of the IAPE/DJ contract describe our Holiday Pay benefit: 1.5X your regular pay for hours you would normally work, and double-time for any extra hours worked on Monday. Plus, you’re eligible for an additional day off in lieu of the holiday.

File for your holiday hours in Workday -- and email union@iape1096.org if you have any Holiday Pay questions.

T&E Policy Enforcement?
Members have contacted the IAPE office to inquire about enforcement notices from the Dow Jones Amex Administrator. The Dow Jones Travel & Expense Policy contains restrictions against using corporate credit cards for personal expenses, known as the “Three Strike'' Policy. While this has long been a component of the T&E Policy, emails from the Administrator suggest the company has only started enforcing this restriction recently.

We’re not sure why, but we intend to find out. If you’ve received a “Three Strike” notice concerning your use of a corporate card, or if you have any questions about the company’s expense policy, please reach out to union@iape1096.org.

Unused FSA Funds & Dependent Care Reset
In case you missed these items in recent messages from Dow Jones, the company has announced it will permit unused 2020 flex spending account funds to carry over into 2021. Previously, Dow Jones only allowed this change for dependent care FSA sums, claiming that extending the same benefit for the medical FSA would impact employees who switched from POS to CDHP medical coverage for 2021. Members who have credits in their 2020 FSA accounts can expect to receive email notices from the company.

And in a Feb. 9 note to staff from Kamilah Mitchell-Thomas, Dow Jones reminded employees that the $700 dependent care benefit had been “reset” for 2021, effective Jan. 1. This is not a new benefit, but simply a refreshing of available funds with the new year upon us.

Contract 101 - Job Security
The IAPE Contract 101 class returns on Wednesday, Feb. 24 at 2:00 p.m. Eastern time. Next week’s class is a rerun of a popular offering from last year: Job Security. In this class, we’ll cover topics like just cause protections against discipline and dismissal, seniority protection, layoffs, severance pay and separation benefits, job postings and even disability pay and sick leave.

Whether you’re an IAPE newcomer or a veteran Dow Jones employee, it never hurts to know more about your rights under the current contract. Register for this and other classes on the IAPE Events Page -- we hope to see you next week!