Forbes Employees Resign in Protest Over Pay on Day of 30 Under 30 List Release | Forbes magazine

The Forbes editorial team, represented by the Forbes Union, organized a strike on Tuesday while negotiations over raises and salaries were still ongoing between the union and Forbes management.

Notably, the strike was scheduled on a day that would impact Forbes’ operations: the day the industry giant plans to release its trademark “30 Under 30” list. The publication features 20 lists of 30 influential people under the age of 30 who are recognized for their achievements in various industries.

The Forbes Union currently represents about 100 writers and other editorial staff at the publication.

The contract the union is seeking includes a $75,000 wage floor, 8% annual raises and a 15% minimum for promotions. They also demand bonuses for overtime and weekends. Forbes management countered this by proposing a minimum salary of $60,000, a 1% annual raise, and a 5% minimum increase for promotions.

An employee posted Tuesday morning on A Contract Is Inevitable, Forbes. But the work stoppages, the embarrassments and the bad press will continue until negotiations improve.”

Union members told Fox News that Forbes management has been delaying negotiations with the editorial board for nearly three years.

“We have been and will continue to be prepared to enter into this agreement, including compensation that recognizes the value we bring to Forbes,” said Andrea Murphy, Forbes’ desk director and statistics editor.

“Right now Forbes is proposing a minimum salary of $60,000 for associates, people starting at Forbes. That’s just not a fair salary for the amount of work people do.”

The NewsGuild of New York confirmed that it has been working with Forbes Union for three years to secure a new contract. The NewsGuild released a statement Tuesday saying Forbes employees were “faced with disrespect and illegal, anti-union tactics” from management during these negotiations.