![]() ![]() This is comparable to the salary increase in the collective bargaining agreements raises that took effect between the end of fiscal year 2014 and the end of fiscal year 2019, from both the 2009 to 20 to 2021 UFT contracts, yield an average annual salary increase of 4.5 percent. Average total pay grew 5.4 percent per year on average, while the rate of base pay grew 4.2 percent.See: City of New York, Mayor’s Office of Management and Budget, Quarterly Report on Current Economic Conditions (August 2019). The average wage in finance was $301,020. The average private sector wage rate in New York City was $92,703 in 2018 and $74,967 when excluding finance. ![]() Source: Staff of City of New York, Mayor’s Office of Management and Budget, email to Citizens Budget Commission staff (October 10,2019). The number of full-time equivalent employees increased from 25,582 at the end of fiscal year 2014 to 26,297 at the end of fiscal year 2019.
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