Under the proposed deal, workers will receive a 43 percent wage increase over four years, as well as a $12,000 bonus they can choose to receive in their paycheck, as a 401(k) contribution, or a combination of both. Additionally, Boeing agreed to match 401(k) contributions up to 8 percent.

According to The New York Times, Boeing said “the average annual pay of machinists will rise to more than $119,000 by the end of the contract, up from nearly $76,000 today, after those raises and other benefits are taken into account.”