Settlement Rates in Perspective
Teacher contract settlements that cover the 2022-23 school year are averaging 3.25% and for 2023-24 the average is 3.26%.
Preliminary results from our recent Teacher’s Contract Negotiations survey to the 133 districts whose teacher’s contracts will expire on 6/30/2023 (with 74% of the districts responding so far) indicate approximately 26 of those districts have reached a successor agreement, some of which are pending ratification (only ratified settlements are represented in the settlement rates NJSBA reports). Teacher’s contracts which start with the 2023-24 school year are reporting an average salary increase of 3.49% for 2023-24 (based upon 13 ratified settlements) and 3.40% for 2024-25.
Note: The 2023-24 survey is now underway. Please check back for further updates.
To view a chart of average settlement rates since 2007-08 school year through today, please click on this link: Historical Settlement Chart
For a detail listing of settlements, as well as other comparative data reports, please log in the Negotiations Data Portal (members-only) section.
*NOTE: All settlement information is reported to NJSBA through surveys to the district administration offices. “Settlement rate” has been traditionally defined as the increase in the salary base over the previous year, inclusive of the cost of increment (step movement), as well as any additional dollars added to ‘enhance’ the salary guide, expressed as a percentage. Example: If a district spent $1,000,000 on salaries in 2021-22, then in 2022-23 spent $1,032,000, that represents a 3.2% increase. It does not mean every teacher gets 3.2% – it simply represents the increase to the overall salary base. Every effort has been made to verify the accuracy of the data. Tentative settlements are not calculated into the above averages until fully ratified by both parties.
If you have any questions, members may contact Sandy Raup, Business Data Analyst, at (609) 278-5224 or email@example.com.