New York City mayor Eric Adams announced a new contract with the police union yesterday. There hasn't been one for many years, so it was retroactive to 2017. Here's how they did:
I estimated inflation of 4% in 2023 and 3% in 2024. Bottom line: in real terms, the NYPD will be making less by the end of the contract than they did at the start of 2017.
This is just base pay. There may be perks and benefits that bulk it up a bit.
There may be perks and benefits that bulk it up a bit.
Most of the benefits start when a cop hooks up with a local fixer. Unlike LA, most of NYC's organized crime is not managed by the cops, they're relegated to more of a support role.
I think most of us are in a similar situation these days. Cops and firefighters are usually able to goose their base pay with lots of overtime, though. A lot of them make well over 100k a year.
This is common, but not everywhere. For instance, I heard of some things up North (R areas) that very large increases, after years and years of nothing.
Regarding police and fire pay, it's almost a given that the top paid person in the city will be from police and fire, plus the next 10, and 45 of the next 50.
Kevin, how much *do* cops make in total (after bonus payments, overtime, etc) from the city? Also, my understanding is the value of the retirement benefits is 2X+ most private employers. And how many cops make substantial private pay on top of the city salary and how much?
Average total pay can be figured by taking the city police budget / number of employees if the number of non-police support staff is low enough.
The pensions are based on the last year, so they generally nearly kill themselves with overtime so that their pension is based on 1.5 to 2x their base salary. This is (wink-wink) accepted and expected practice.
OTOH, being a cop in NYC has got to be hellish.
And if inflation collapses, they'll be ok.
The contract is retroactive--but I couldn't find out how much officers will get in back pay now.
As per the Post article: starting pay, $55K/year (and you can live on that?)
Top pay after 5.5 years on the job, up to 131K (how much overtime?)
"I estimated inflation of 4% in 2023 and 3% in 2024. " Given that the CPI says inflation dropped to under 2% at the end of last June why would you do something that stupid? Remember, as with any moving average, the correct time point is the middle of the moving window, not the end point. Thus the recent report that inflation (as measured by PCE) has dropped under 5 per cent was really a report that inflation dropped under 5% 7 months ago.