Pilot Wages at WJ (1996 Start-up)?

[ScudRunner]

So I asked this question in the general comments forum thread about Canada Jetlines filing their IPO.

What was the pilot pay like at WJ when it was a brand new startup?

I ask this because I seem to recall being told WJ paid crap and where the lowest wages in the industry compared to AC/CP at the time. I was only 16 back when they started operating and even chucked bags into the old -200 a few years later. Obviously the first few guys who jumped ship from Canadian or AC to the WJ new start-up did pretty well in the end, but how big of a pay cut or gamble was it?

PS I don't think that Canada Jetlines will be the next WJ, who knows though just would be interesting to compare.

[True North]

So I asked this question in the general comments forum thread about Canada Jetlines filing their IPO.

What was the pilot pay like at WJ when it was a brand new startup?

I ask this because I seem to recall being told WJ paid crap and where the lowest wages in the industry compared to AC/CP at the time. I was only 16 back when they started operating and even chucked bags into the old -200 a few years later. Obviously the first few guys who jumped ship from Canadian or AC to the WJ new start-up did pretty well in the end, but how big of a pay cut or gamble was it?

PS I don't think that Canada Jetlines will be the next WJ, who knows though just would be interesting to compare.

If I recall correctly:

Capt $60,000/year
FO $40,000/year

+ stock options + ESPP + profit share.

Those guys are all millionaires now. Canada Jetlines most definitely will NOT be the next WJ.

[ScudRunner]

http://www.bankofcanada.ca/rates/relate ... alculator/

So I just put those numbers into the inflation calculator and today that would be:

Captain = $83,879.60 First Officer = $55,919.73
I guess the stock options and profit share would make up a bit, however as a start up that is always a gamble in Aviation.

I wonder what CJL or Jet Naked will offer......

Anyone know what Canadian or AC was paying at the time?

[Batman]

I don't recall anyone jumping ship from A/C or Canadian for Westjet in those days.

[bobcaygeon]

Lots of Air Atlantic and CRA. 60k was a pay raise from F28 capt.

[flyer 1492]

No it wasn't, the pay was the same. The only pilot that I know of was a retiree from CDN. I think they were talking about the MTCE personal that came to WJ after CDN closed the MTCE base in Calgary.

[ScudRunner]

Well regardless of pilots jumping or not from AC/CP over to WJ, suffice to say a narrow body captain making 60K or 83K in todays dollars seams low. Something tells me if Avcanada had been around back then people would be screaming about the race to the bottom etc etc. Interesting.

[Realitychex]

Keep in mind a $10 IPO share in 1999 is worth about $110 today, and the pilots, (and others), were able to buy shares somewhere between $1 and $4.50 pre IPO, with equally attractive stock option strike prices.

I'd bet that when most of the pilots looked at their total pay package earned between 1996 and 2000, and divided it by the 5 years to get a per year average, in retrospect, they were probably the highest paid narrow body pilots in Canada.

[Beach 200]

Didn't westjet make you pay for your type rating in the beginning?

[Batman]

No

[Batman]

It wouldn't be a stretch to say that when the entire compensation package was considered WJ pilots between 1996-2000, averaged out, were perhaps the highest paid pilot group in the world narrow body or otherwise. A matter of being in the right place at the right time. Whether or not you were there , love or hate Westjet, it was sure nice to see a few pilots do that well in an industry that generally bends us over.

[leftoftrack]

Heard that they payed wages in stock while they were shut down by transport Canada. Anyone know if that's true?

[ScudRunner]

Heard that they payed wages in stock while they were shut down by transport Canada. Anyone know if that's true?

Well they started operating in February of 1996 and the shut down was in September 96. The IPO wasn't until 1999 so I doubt it.

It wouldn't be a stretch to say that when the entire compensation package was considered WJ pilots between 1996-2000, averaged out, were perhaps the highest paid pilot group in the world narrow body or otherwise. A matter of being in the right place at the right time. Whether or not you were there , love or hate Westjet, it was sure nice to see a few pilots do that well in an industry that generally bends us over.

How big where those profit sharing cheques until the IPO in 1999? was there some other form of inside share grants before the IPO?

[leftoftrack]

Pretty sure they were issuing shares pre IPO so why would you doubt that?

[neophyte]

AVCANADA was around back then.

"This is chess, not checkers"

[leftoftrack]

AVCANADA was around back then.

"This is chess, not checkers"

I can't find anything from pre 2004 on here when they switched systems. But more importantly this isnt chess or checkers.

It's hard to get an answer around here

[KAG]

They used to call profit share trucks and t!ts, as they were a lot of money. Also the original wjers made millions off their options.
The pay was bad but it was more then made up in other ways.