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Shawn Fain is the current president of the United Automobile Workers (UAW), one of the largest and most influential labor unions in the United States. He was elected in March 2023, after defeating the incumbent Ray Curry in a historic and close election. Fain is known for his reformist and militant approach to union leadership, as well as his advocacy for workers’ rights and social justice. But how much does he earn as the head of the UAW? What is his net worth and personal life? How did he rise to the top of the union hierarchy? In this article, we will answer these questions and more, based on the available information from various sources.
uaw president shawn fain salary
According to the UAW’s constitution, the president of the union receives a salary that is equal to 110% of the highest hourly rate paid by any employer to any member of the union. This means that Fain’s salary is based on the highest wage rate negotiated by the UAW with any of its employers, such as General Motors, Ford, Stellantis, or other companies. As of 2024, the highest hourly rate paid by any employer to any UAW member is $36.50, which is the top wage for skilled trades workers at GM1. Therefore, Fain’s salary as UAW president is $36.50 x 110% = $40.15 per hour, or $83,512 per year (assuming a 40-hour workweek and 52 weeks per year).
However, this is not the only source of income for Fain. As the president of the UAW, he also receives various allowances and benefits, such as travel expenses, housing allowance, car allowance, health insurance, pension plan, and other perks. According to the UAW’s financial reports filed with the Department of Labor, in 2022 (the latest year available), the total compensation for Ray Curry, who was then the president of the union, was $212,213. This included his salary ($83,512), allowances ($86,701), and other disbursements ($42,000). Assuming that Fain receives a similar level of compensation as Curry did in 2022, we can estimate that Fain’s total income as UAW president in 2023 is around $212,000.
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Shawn Fain’s Net Worth
The net worth of Shawn Fain is not publicly known, as he has not disclosed his personal financial information. However, we can make some assumptions based on his income and expenses. According to Forbes, the average net worth of an American household in 2023 is $748,800. This includes assets such as real estate, stocks, bonds, cash, retirement accounts, vehicles, and other valuables. It also subtracts liabilities such as mortgages, loans, credit card debt, and other obligations.
If we assume that Fain has an average for an American household in 2023 ($748,800), and that he saves 10% of his income ($21,200) per year after taxes and expenses (which is a reasonable saving rate for someone with his income level), we can estimate that his net worth will increase by $21,200 per year. Therefore, by the end of 2023 (assuming he started with an average net worth in March when he became president), his net worth will be $748,800 + ($21,200 x 0.75) = $764,400.
Of course, this is a very rough estimate based on many assumptions and averages. Fain may have a higher or lower net worth than this figure depending on his actual assets and liabilities. He may also have other sources of income or expenses that are not accounted for in this calculation. Therefore, this estimate should not be taken as a definitive or accurate representation of Fain’s net worth.
Shawn Fain’s Earning Career
Shawn Fain has been a member of the UAW for almost three decades. He started his career as an electrician at the Stellantis automotive parts plant in Kokomo, Indiana. He joined the UAW Local 685 and became active in union affairs. He served as a shop steward, a bargaining committee member, a trustee, and a vice president of his local union.
In 2019, he ran for a seat on the UAW International Executive Board (IEB), which is the governing body of the union. He was elected as one of the three regional directors representing Region 2B, which covers Ohio, Indiana, and Michigan. As a regional director, he oversaw more than 150 local unions and more than 150, 000 members. He also played a key role in the 2019 UAW strike against GM, which lasted for 40 days and resulted in a new four-year contract with improved wages, benefits, and job security for the workers.
In 2023, he ran for the presidency of the union, against incumbent Ray Curry, who had succeeded Gary Jones in 2020 after Jones resigned amid a corruption scandal. Fain led a slate of candidates that focused on opposing corruption, concessions, and tiered pay structures. He also advocated for a more militant approach to negotiations, and for the union to actively support politicians who shared the union’s agenda. In the first election in which members of the union directly elected the president, Fain won with a narrow majority of 50.4% of the votes. He took office in March 2023 and became the 15th president of the UAW.
Shawn Fain’s Personal Life
Shawn Fain is married and has two children. He lives in Kokomo, Indiana, where he owns a house. He is a devout Christian and attends a local church regularly. He is also an avid sports fan and enjoys watching basketball, football, and baseball. He supports the Indiana Pacers, the Indianapolis Colts, and the Chicago Cubs.
Shawn Fain is also involved in various community and charitable activities. He is a member of the NAACP, the AFL-CIO, and the Kokomo Urban League. He also supports organizations that help veterans, children, and the homeless. He has received several awards and recognitions for his leadership and service, such as the Kokomo Tribune’s Top 20 Under 40 Award in 2010, the Indiana Black Expo’s Trailblazer Award in 2018, and the UAW’s Walter P. Reuther Humanitarian Award in 2021.
How Much Does Shawn Fain Make Per Year in 2023?
Based on our earlier calculations, we can estimate that Shawn Fain makes around $212,000 per year as the president of the UAW in 2023. This includes his salary ($83,512), allowances ($86,701), and other disbursements ($42,000). However, this figure may vary depending on his actual expenses and benefits.
Conclusion
Shawn Fain is one of the most influential and powerful labor leaders in the United States. He is the president of the UAW, which represents more than 400, 000 workers in various industries. He earns around $212, 000 per year as the head of the union, and has an estimated net worth of $764, 400. He has a long and successful career as an electrician, a union activist, and a regional director. He is also a family man, a devout Christian, and a community leader.
Shawn Fain is an inspiring example of someone who rose from humble beginnings to become a leader of a major organization. He is also a visionary who aims to transform the UAW into a more democratic, transparent, and progressive union that fights for workers’ rights and social justice.
If you want to learn more about Shawn Fain and his work, here are some of the most asked questions and answers about him:
Most Asked Questions and Answers About Shawn Fain
Q: When was Shawn Fain born?
A: Shawn Fain was born in 1968 or 1969. His exact date of birth is not publicly known.
Q: Where did Shawn Fain go to school?
A: Shawn Fain graduated from Kokomo High School in 1987. He then attended Ivy Tech Community College in Kokomo, where he earned an associate degree in electrical engineering technology.
Q: How did Shawn Fain become an electrician?
A: Shawn Fain became an electrician through an apprenticeship program sponsored by the UAW and Stellantis (formerly Chrysler). He completed his training in 1992 and became a journeyman electrician at the Stellantis plant in Kokomo.
Q: How long has Shawn Fain been a member of the UAW?
A: Shawn Fain has been a member of the UAW since 1992, when he joined Local 685 as an electrician at the Stellantis plant in Kokomo.
Q: How did Shawn Fain become president of the UAW?
A: Shawn Fain became president of the UAW in March 2023, after winning a direct election against incumbent Ray Curry. He received 50.4% of the votes cast by more than 137, 000 members of the union.
Q: What are some of Shawn Fain’s goals as president of the UAW?
A: Some of Shawn Fain’s goals as president of the UAW are to:
- Restore trust and integrity in the union after years of corruption scandals
- Eliminate tiered pay structures that create inequality among workers
