Wage Review. The wages payable in the electrical contracting industry shall be determined annually by reference to an agreed set of analogue companies which shall be lodged with the Chair of the NJIC. This shall be the sole method of wage determination. In September, 1998, and each September thereafter, the analogue increase will be determined in accordance with the formula below, and shall be paid on and from the first of April of the following year. The analogue increase shall be calculated as follows:- 1. The top hourly rates on 1st September each year in each of the agreed analogue companies will be established. 2. The average of these companies will be calculated. 3. The difference between this average and 0.89 of the top NJIC hourly rate (i.e. after 5 years’ service) will be calculated and expressed as an amount of cent per hour. 4. This number of cent per hour will be added to each point on the electrician’s scale. This will produce the new scale, which will be applied from 1st April, of the following year. 5. The apprentice rates will be calculated as per Rule 15, in this case, the “craft basic rate” is taken to mean the “1st year out of time rate”.
Appears in 5 contracts
Samples: Employment Agreement, Employment Agreement, Employment Agreement
