Realistic First/Second Year Pay
05-20-2016, 06:33 AM
#71
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Joined APC: Nov 2013
Posts: 2,756
Originally Posted by LuckyNow
I'm not a frequent enough poster here to say for sure, but I believe that QG was a flow through pilot and those pilots kept their company seniority date for vacation and 401k contributions. I don't know the specifics of his situation, but the company puts in 16% and not more than that for anyone. We got some stock a few years ago, perhaps that was included in the first year compensation estimate. That certainly wouldn't be the case for someone off the street.
People should make sure they know where their money is going to. My son worked for a company that automatically took 3% of his puny paycheck and put it into a 401K. When he left the company, they decided he had too little in his account and "forfeited" it for him. Or confiscated it. Kind of pathetic when people are so poorly paid, and then they lose their contributions, too. But it was his fault for not paying attention.
05-20-2016, 06:40 AM
#72
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Joined APC: Feb 2012
Position: 787
Posts: 3,137
Originally Posted by Rickce7
Nope, pretty sure that is all AA money. . .had a guy in my crash pad with similar numbers and he said that he didn't put a dime of his own money into his 401k and AA put $21600 for the year. . .a nice little deal.
He's counting his own money which as bus driver said is a false representation.
05-20-2016, 06:43 AM
#73
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Joined APC: Feb 2012
Position: 787
Posts: 3,137
Originally Posted by LuckyNow
I'm not a frequent enough poster here to say for sure, but I believe that QG was a flow through pilot and those pilots kept their company seniority date for vacation and 401k contributions. I don't know the specifics of his situation, but the company puts in 16% and not more than that for anyone. We got some stock a few years ago, perhaps that was included in the first year compensation estimate. That certainly wouldn't be the case for someone off the street.
05-20-2016, 07:44 AM
#74
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Joined APC: Apr 2010
Posts: 694
Originally Posted by busdriver12
People should make sure they know where their money is going to. My son worked for a company that automatically took 3% of his puny paycheck and put it into a 401K. When he left the company, they decided he had too little in his account and "forfeited" it for him. Or confiscated it. Kind of pathetic when people are so poorly paid, and then they lose their contributions, too. But it was his fault for not paying attention.
05-20-2016, 08:09 AM
#75
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Joined APC: Jul 2008
Posts: 854
Originally Posted by LuckyNow
AA puts 16% into our 401k whether we put any in or we don't, not the first year though. I think DAL and UAL are pretty much the same.
My first 12 months of paychecks came to just over $97k including pay, per diem, and the 16% company retirement contribution. Averaged 89 credit hours per month.
05-20-2016, 10:08 AM
#76
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Joined APC: Nov 2013
Posts: 2,756
Originally Posted by Chuck D
Not to spin off topic but that sounds pretty odd... is he sure it wasn't the unvested company contribution that was forfeited?
05-21-2016, 06:06 AM
#77
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Joined APC: Dec 2013
Position: A320 CA
Posts: 2,297
Originally Posted by busdriver12
And for anyone who thinks that the company is putting exactly 10% more into their 401K than other pilots on the property (unless it's a contractual rule), they need to look closer at their account. They have either accidentally opted in, or the company automatically opted them in. Believe me, I understand how confusing it can be. I worked for a major for 2 1/2 years, and didn't even realize I had a 401K account until they furloughed me. I have no idea how much of it was company contributions or my own. At that point, I was just happy to have a job.
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