Days worked
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Days worked
How many days per month can a new fo expect to work? Also can anyone say what an average take home pay is per month for year one?
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lostaviator
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Re: Days worked
16 max. 18 on reserve.
Take home pay is around $2,000 per month. Though, who knows what will happen after the Onex sale is complete and the variable compensation part changes.
Take home pay is around $2,000 per month. Though, who knows what will happen after the Onex sale is complete and the variable compensation part changes.
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plausiblyannonymous
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Re: Days worked
No, Encore pays more than that.
I would expect a first year FO to take home 3-4 grand per month.
Re: Days worked
On the 737 at WestJet mainline, take home pay varies greatly depending on %ESP you put in.
if you do the full 20% your take home pay WILL be around 2000$/month. It is very sad.
if you do the full 20% your take home pay WILL be around 2000$/month. It is very sad.
--In his wrapup remarks, the FAA chief said, "If you think the safety bar is set too high, then your
standards are set too low."
standards are set too low."
Re: Days worked
Didn't you guys negotiate a pension in the CA? When will it be implemented?
The tax hit on that ESP is the shits.
The tax hit on that ESP is the shits.
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PostmasterGeneral
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flyingcanuck
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Re: Days worked
Wow that's less than Jazz starting pay (well close considering ESP)
Re: Days worked
Do you have to participate in the esp? What would the take home be with minimal esp?
Re: Days worked
.
Last edited by DropTanks on Wed Feb 05, 2020 10:56 am, edited 1 time in total.
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plausiblyannonymous
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Re: Days worked
I call bullshit.
At Encore, first year FOs are taking home $1200 per paycheck (after taxes, before per diem and other extra income).
First year mainline FOs are taking home at least $60 per hour, which is $4500 per month before taxes. That's almost $1200 per month more than a first year FO at Encore.
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lostaviator
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Re: Days worked
And WJ pilots contribute double to ESPP, and therefore pay more tax as well.plausiblyannonymous wrote: ↑Mon Oct 21, 2019 2:36 pmI call bullshit.
At Encore, first year FOs are taking home $1200 per paycheck (after taxes, before per diem and other extra income).
First year mainline FOs are taking home at least $60 per hour, which is $4500 per month before taxes. That's almost $1200 per month more than a first year FO at Encore.
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lostaviator
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Re: Days worked
Let's do math.
Salary: $60,000
Company ESP Match: $12,000
Taxable Gross: $72,000
Tax (AB): $18,000
Take-home
Salary - your esp - minus tax = $30,000 = $2,500 per month.
WJ pilots pay 100% of their short-term and long-term disability premiums, so knock another $200-$250 off of that.
Your semi-monthly pay will be $1000-$1200 plus per diems.
You are of course saving a lot of money (in shares), but you asked about take-home pay.
The ESP waiting window to start paying into is 6 months (or is it 3???), so this math might look VERY different in the next quarter. And don't ask, because we don't know either.
Salary: $60,000
Company ESP Match: $12,000
Taxable Gross: $72,000
Tax (AB): $18,000
Take-home
Salary - your esp - minus tax = $30,000 = $2,500 per month.
WJ pilots pay 100% of their short-term and long-term disability premiums, so knock another $200-$250 off of that.
Your semi-monthly pay will be $1000-$1200 plus per diems.
You are of course saving a lot of money (in shares), but you asked about take-home pay.
The ESP waiting window to start paying into is 6 months (or is it 3???), so this math might look VERY different in the next quarter. And don't ask, because we don't know either.
Last edited by lostaviator on Mon Oct 21, 2019 3:54 pm, edited 1 time in total.
Re: Days worked
18 years of ESP, and lots of work learning how to invest and manage your money has resulted in a retirement investment account that is currently sitting at 1.5 million. Yes, I like the ESP.
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lostaviator
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Re: Days worked
Fingers crossed we are presented with something that can provide the same long term results, and more importantly..... an option and not being forced into something.
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PostmasterGeneral
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Re: Days worked
Ouch. An Air canada pension after 18 years would be more than double that.
Re: Days worked
A friend at AC whom unfortunately has lost his medical is looking at a hugely reduced pension. We are the same age and my savings put me well ahead. He does have a fantastic loss of medical insurance policy which I wish we had.
Re: Days worked
It might be. But this is one person's portfolio. There are many more people who have much more than that and many that have $0.PostmasterGeneral wrote: ↑Mon Oct 21, 2019 7:34 pmOuch. An Air canada pension after 18 years would be more than double that.
The single most important distinction between a an ESP and a Pension is that the money is yours yours to invest and yours forever, not the pension plans.
You die with a pension and it dies with you (surviving spouse % not withstanding). You both die and its good and gone. An ESP worth $2Mil + is the type of thing that can change the generational wealth of your family tree. You could set up the principle to pay dividends to your children and grand children. Who here wouldn't have loved to have a few extra grand a month to help with flight school and bills back in the day because of a forward thinking relative?
Re: Days worked
didn't want to give anything to the kids anyways 
The force will be with you, always
