10 year take home pay QOL

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copter105
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10 year take home pay QOL

#1 Post by copter105 » Tue Dec 26, 2017 5:08 pm

I'm collecting data based on different airlines. I see the rates posted and I know there are many variables but assuming you are working an average schedule, what is the amount a 10 year Captain or a 10 year FO would get into your bank account? This of course can be different based on domicile, years of seniority, whether you are Rouge or AC, wide body, narrow body, contributions to retirement etc... All variables matter. The goal here is take home pay. I'm trying to see how much a pilot has to work with in their bank accounts. Per cheque, per month, per year or whatever info you got. Please include your aircraft type. Thank you in advance!
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Re: 10 year take home pay QOL

#2 Post by confusedalot » Tue Dec 26, 2017 7:37 pm

https://www.airlinepilotcentral.com/air ... air_canada

The site is in need of an update, however, this will give you an approximation of ten year payscales. It is probably now a little more for mainline and a bid less for rouge by about 75%, (that is only a guess). As a rule of thumb, take the hourly rate and multiply by 1000, which will equate to approximate yearly salary.

I understand that the first 4 years of employment range from about 50K to 72K, or something like that. Then you slide into the hourly rates after the total years of service. So, if you wre hired in 2017, you will be at the 2027 rates. Depends of course on the plane you fly and what seat you hold.
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Re: 10 year take home pay QOL

#3 Post by confusedalot » Tue Dec 26, 2017 7:48 pm

confusedalot wrote:
Tue Dec 26, 2017 7:37 pm
https://www.airlinepilotcentral.com/air ... air_canada

The site is in need of an update, however, this will give you an approximation of ten year payscales. It is probably now a little more for mainline and a bid less for rouge by about 75%, (that is only a guess). As a rule of thumb, take the hourly rate and multiply by 1000, which will equate to approximate yearly salary.

I understand that the first 4 years of employment range from about 50K to 72K, or something like that. Then you slide into the hourly rates after the total years of service. So, if you wre hired in 2017, you will be at the 10 year rates in 2027. Depends of course on the plane you fly and what seat you hold.
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Re: 10 year take home pay QOL

#4 Post by confusedalot » Tue Dec 26, 2017 7:57 pm

forget about the double post; finger trouble.
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Re: 10 year take home pay QOL

#5 Post by Shady McSly » Tue Dec 26, 2017 9:09 pm

calm down
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Re: 10 year take home pay QOL

#6 Post by copter105 » Tue Dec 26, 2017 10:00 pm

Thank you for the reply but I already have pay rate information. I'm interested in what pay will actually be deposited into your bank account AFTER all the deductions. Hourly pay rate is only one variable of what a pilot standard of living is. The only truth to the standard is the value that is deposited directly into the bank account. For guidance, please read my post on the WestJet Forum.
http://www.avcanada.ca/forums2/viewtopi ... 6&t=121474

Aircraft
Seat Position
Hourly Wage
Profit Sharing
Pension/Retirement
Total Income
Provincial Income Tax
Canadian Income Tax
Total Taxable Income
Average Tax Rate
Marginal Tax Rate
Total ESPP (if applicable)
STD/LTD
EI/CPP
RRSP Contribution
Union Dues
Any other income/deductions I am missing?
Bi-Weekly Net Pay Cheque
Yearly Take Home Pay Total Deposit
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Re: 10 year take home pay QOL

#7 Post by confusedalot » Wed Dec 27, 2017 8:03 pm

takehome is 50% of gross?

Sorry, I am not an acccountant. Bear in mind though that deductions other than straight tax will come back to you in the future, like profit share, pension deductions, etc......so they are not really deductions, just deferred pay.
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Re: 10 year take home pay QOL

#8 Post by confusedalot » Wed Dec 27, 2017 8:06 pm

Shady McSly wrote:
Tue Dec 26, 2017 9:09 pm
calm down
Fat fingers and no talent with a keyboard, what can I tell ya. Serenity is not the issue.
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Re: 10 year take home pay QOL

#9 Post by aV1aTOr » Thu Dec 28, 2017 4:15 pm

.
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Re: 10 year take home pay QOL

#10 Post by RVR6000 » Fri Dec 29, 2017 8:45 am

Take home pay for a 10 year 777RP vs. 320CA is going to vary grossly. Not sure what the point of this thread is, pay rates are online, average $900-1000 in per diems, $7-12k in annual bonuses, pension deductions differ based on the plan you’re on.

Bottom line is, AC offers great money/crappy lifestyle or low pay/awesome lifestyle. Crappy lifestyle is protected by max 16 days work on the narrowbody. Great money is approx 200k for a junior 320 skipper.

The best part is you get to choose, bottom captain is about 2 years on the property.
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Re: 10 year take home pay QOL

#11 Post by Victory » Fri Dec 29, 2017 2:39 pm

What is first year take home pay?
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Re: 10 year take home pay QOL

#12 Post by rudder » Sat Dec 30, 2017 8:41 am

RVR6000 wrote:
Fri Dec 29, 2017 8:45 am
Take home pay for a 10 year 777RP vs. 320CA is going to vary grossly. Not sure what the point of this thread is, pay rates are online, average $900-1000 in per diems, $7-12k in annual bonuses, pension deductions differ based on the plan you’re on.

Bottom line is, AC offers great money/crappy lifestyle or low pay/awesome lifestyle. Crappy lifestyle is protected by max 16 days work on the narrowbody. Great money is approx 200k for a junior 320 skipper.

The best part is you get to choose, bottom captain is about 2 years on the property.
Can a year 2/3/4 NB CA on RSV make $200k? I thought that the 900 hour annual pay guarantee only applies to block holders (prorated for months spent on RSV).
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Re: 10 year take home pay QOL

#13 Post by sanjet » Sat Dec 30, 2017 9:08 am

Victory wrote:
Fri Dec 29, 2017 2:39 pm
What is first year take home pay?
I’ve seen guys talk about easily earning above 55k since they do more than the guaranteed 75 hour salary. That’s not including per dimes, profit sharing or any additional overtime work.
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Last edited by sanjet on Sat Dec 30, 2017 10:15 am, edited 1 time in total.

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Re: 10 year take home pay QOL

#14 Post by RVR6000 » Sat Dec 30, 2017 9:55 am

rudder wrote:
Sat Dec 30, 2017 8:41 am
RVR6000 wrote:
Fri Dec 29, 2017 8:45 am
Take home pay for a 10 year 777RP vs. 320CA is going to vary grossly. Not sure what the point of this thread is, pay rates are online, average $900-1000 in per diems, $7-12k in annual bonuses, pension deductions differ based on the plan you’re on.

Bottom line is, AC offers great money/crappy lifestyle or low pay/awesome lifestyle. Crappy lifestyle is protected by max 16 days work on the narrowbody. Great money is approx 200k for a junior 320 skipper.

The best part is you get to choose, bottom captain is about 2 years on the property.
Can a year 2/3/4 NB CA on RSV make $200k? I thought that the 900 hour annual pay guarantee only applies to block holders (prorated for months spent on RSV).
There is a minimum monthly hours guarantee being on reserve it’s determine by the monthly DBM for block holders. Unlike widebody reserve where you’re rarely called out, narrowbody reserve you’ll be working a lot. That approx 200k would be inclusive of per diems and profit share.
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Re: 10 year take home pay QOL

#15 Post by Soixante-Neuf » Sat Dec 30, 2017 10:00 am

AC year 5 E190 Captain (5 years total company service) with no contribution to your optional ESOP (but obviously including your pension contributions and full deductions off your cheque) and including per diem is taking home $8,500 to $9,500 a month money in your bank account with zero overtime.

A year 5 E190 FO, no ESOP, with per diem, would take home roughly $5,000 to $6,000 a month into their bank accounts, no overtime.

For roughly the same years of service (5 or 6), a 320 Captain would take home roughly $1,000 to $1,500 more than an E190 Captain; certainly north of $10,000/month, maybe sometimes closer to $11,000/month into the bank account, no overtime.

The $1,000 range varies based on where you are in your CPP/EI contributions for the year, and slight hourly fluctuations (almost always 80-85 hour months for the Captain seat) and slight per diem fluctuations to do with which kind of pairings you are flying, and also day vs. night rates and the seasonality of that.

This does not include profit share which is a separate cheque in April. Minimum pre-tax profit share per pilot is roughly $9,000/year (most junior pilot) with a maximum profit share of around $20,000 a year for a 777 Captain.

The reason in the massive disparity between WJ and AC take home pay is that WJ pilots do not have a pension plan and have to contribute to their ESOP (20%) for any money in retirement, and ESOP is taxable. AC also pays 100% of your entire family benefit package (health/drug/dental) and 100% of your short & long term disability benefit package, which makes a massive difference in take home pay. This is why a top-scale 12 year WJ Captain on a 737 takes home roughly the same pay as a 5 year E190 FO at AC.

The pension in retirement (both defined benefit and the new target benefit plan for new hires) on a full career at AC with normal career progression should be around $165,000 to $170,000 a year pre-tax until death, with a survivor benefit for your spouse.
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Re: 10 year take home pay QOL

#16 Post by confusedalot » Sat Dec 30, 2017 8:15 pm

165-170K pension on a DC plan? That's 4 million in actuarial terms? Really?
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Re: 10 year take home pay QOL

#17 Post by Jean-Pierre » Sat Dec 30, 2017 8:32 pm

You should have try harder.
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Re: 10 year take home pay QOL

#18 Post by altiplano » Sat Dec 30, 2017 10:48 pm

Jean-Pierre wrote:
Sat Dec 30, 2017 8:32 pm
You should have try harder.
Zing!
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