The City University of New York has reached a tentative contract agreement with unionized faculty and staff that includes across-the-board raises and a ratification bonus, CUNY and the Professional Staff Congress announced Monday.

The deal, which covers some 30,000 CUNY employees, spans from March 2023 to November 2027. It included compounded raises of more than 13% — meaning each year’s wage hike is calculated based on the previous year’s salary boost — retroactive pay, “equity raises” for some of the lowest-paid members, and a ratification bonus of $3,000. A pro-rated bonus is available for part-timers.

“Full-time and part-time faculty and professional staff are at the heart and soul of the CUNY system, responsible for fulfilling our mission to provide a high-quality public education to all students, regardless of background,” CUNY Chancellor Félix Matos Rodríguez said in a statement. “This inclusive contract is a testament to our commitment to our teaching and non-teaching staff and determination to ensure CUNY continues to provide students with a top-tier education.”