Pittsburgh Back In The Red

The Pittsburgh Symphony boosted its measurable assets by $8 million in the 2004-05 season, but the orchestra still wound up with a $1.1 million deficit. That’s a manageable number for a major orchestra, but it could also be seen as a potential red flag for an organization whose musician costs increased significantly this fall. The PSO musicians recently received a whopping 23% raise (the result of a backloaded contract signed by a management team no longer with the orchestra), and even after they offered to rework the deal to provide some short-term relief, salaries for 2005-06 will still be considerably higher than in previous seasons. Still, PSO officials say they are in good financial shape, especially when compared with other major American orchestras.