Forbes Union wins raises, job protections in first contract

Unionized workers at Forbes magazine ratified their first contract this week, securing a $65,000 salary floor as well as stronger job protections and assurances over editorial independence after more than four years of organizing. 

The three-year agreement, which was ratified Sept. 1, covers 90 Forbes staff members, including reporters, photo editors and video editors represented by The NewsGuild of New York. The years of disagreements between the union and management centered around a wage dispute, namely a cost-of-living adjustment the union says is the bare minimum for a modern workforce. 

Management responded to the union's proposals with a 1.25 percent wage increase at the end of 2025, which the union described as "negligible" and “ridiculously cheap,” but the new contract won annual raises of four percent, three percent and three percent over its duration, along with a $2,500 ratification bonus. 

For some union members, the new salary minimums will mean raises of nearly $20,000 or more in the first year of the contract, according to the union.

‘Direct result of our union’s perseverance and solidarity’

“We refused to accept any deal that didn’t honor the value we bring every day to Forbes,” said Andrea Murphy, the Forbes Union’s unit chair and a statistics editor. “This contract is the direct result of our union’s perseverance and solidarity.”

Forbes did not respond to a request for comment.

The agreement also includes what the union described as “gold-standard” just-cause protections. Under the provision, employees facing discipline or termination will be entitled to fair due process and union representation.

Workers who are laid off will have a one-year recall period, while temporary employees will have a pathway toward full-time employment.

The contract also establishes protections intended to preserve editorial independence, creating a firewall between Forbes’ editorial and business operations.

The agreement comes more than four years after Forbes editorial workers first organized with The NewsGuild in 2021. During the prolonged negotiations, union members staged multiple displays of collective actions, including two work stoppages, in an effort to secure their first contract.

Fought to preserve editorial independence

Susan DeCarava, president of The NewsGuild of New York, said the agreement recognizes the role workers play in maintaining the publication’s journalism and newsroom standards.

“Forbes’ success is a direct result of our members’ hard work and their commitment to quality journalism,” DeCarava said. “Our members fought long and hard for the value of their work.”

The contract, she added, gives workers a greater voice in workplace standards while improving their economic and job security.

The Forbes contract is the latest labor action by a NewsGuild-represented workforce, as media workers across the industry have increasingly organized and fought for stronger workplace protections. 

In June, about 30 reporters and editors at Schneps Media announced their union drive with NewsGuild Local 1096, with 85 percent of eligible employees signing authorization cards. 

In April, roughly 150 members of the ProPublica Guild staged a 24-hour strike, picketing outside offices in New York, Washington, D.C., and Chicago while demanding a fair contract. 

Meanwhile, The NewsGuild of New York filed an unfair labor practice charge against Reuters, alleging senior editors improperly performed work reserved for union-represented journalists amid stalled contract negotiations.