CAL wrote: ↑Fri Sep 21, 2018 5:36 am
Its interesting how complicated it has become to work out how much you actually earn at an airline these days (thats how the airlines want it)
the title was first few years pay....to me that is how much is in my bank account when I get paid after flying my allotted schedule.
earning 50 anything a year to fly a narrow body airliner is absolute shit and its very difficult to live off of period...unless your other half has a real job.
I agree that it's shit pay... perhaps sadly though, it's a raise from pre:2012 where first 2 years flat pay really was flat pay at <40K no matter what... ie. no OT pay.
I'll help you work it out though...
2018 F/O pay rates:
1 - $58.88
2 - $64.38
3 - $73.73
Add 2% every April.
Multiply by 900 at mainline and multiply by 930 at rouge. That's your base pay guaranteed.
Add another 20 hours for training every year. (22.5 rouge)
At mainline expect another 30-50 hours if you hold a block all year - without any OT.
If you do OT, expect more at a premium, only you can decide how much more you want to work at 1.5-2.5x your rate. 100 hours a month? I think you're crazy, but some are doing it.
If you're in ESOP at max rate add 3.3% to your earnings (assuming no capital gain/loss).
Add in what the company pays for your pension. Someone can correct me perhaps, but I believe it's 10.5% of earnings in the new TBP.
Expect about $10K profit share in the first few years assuming the economy keeps chugging.
100% paid short/long term disability, medical, dental, some life insurance.
Here's an example...
Assumptions -
you showed up April this year for your first year
paid for the bare guarantee minimum at Mainline
low hour blocks, <75/month, or reserve guarantee
NO overtime
minimum sim/art training
participate at maximum in ESOP
AC turns a profit and we get profit share:
900 hour guarantee+training =$54,170
+3.33% ESOP match =$1804
+$10k profit share =$10,000
Then deductions...
pre-tax union dues (1.5%ish) not on ESOP,
pre-tax pension contribution (7.5%) not on ESOP or profit share,
I've got you at about $60950 taxable income after you union dues and pension paid - taxes after that.
Let's say you're in BC.
federal/provincial/cpp/ei = $13,860
Remainder = $47,090 after deductions
Not pay, but I get about $1200/month per diem, yrmv depending on where you fly, and you said you want to know what's in your bank account end of the month.
So, without turning a wheel of OT, assuming minimum blocks and only the guarantee, profit share, and max ESOP participation, average per diem, plus 18% paid into your TBP pension, and full benefits. I've got you at an average take home of $5125 per month, year one AC mainline F/O.
Again YRMV... there may be a few taxable benefits that I'm not factoring here, parking at some bases is a taxable benefit, the employer paid life insurance is too... but I think they're minimal in the scope of this example, marginal tax rate 28.2%. Maybe you participate in extra group life insurance that is available from both the company and ACPA... Far cheaper than the open market, so maybe knock a few more bucks off for these kind of things if you think it's up your alley.
If you want to go over other scenarios I'd be happy to help.
