Those 2% Raises Will Cripple You Every Time

The Cincinnati Symphony is projecting a $2 million-plus deficit for the current fiscal year. “The short-term culprit for the deficit is a reduced contribution from the orchestra’s $73.1 million endowment… Two years ago, the CSO raised ticket prices but saw a bigger drop in its subscription sales than it anticipated, Reynolds said. And it negotiated a three-year musicians’ contract that froze salaries the first two years. But wages are scheduled to increase 2.4 percent this year.”