The problem is this company NEVER negotiates based on industry leading anything. They want you to be industry average (if even that). The only people who are industry leading in anything here are the executives in terms of their pay. They are the highest paid executives of all the airlines out there.

I'll give you that a case can be made about FedEx/UPS not being our industry, but Smisek's pay is based on their pay. Someone asked him at a company dog-and-pony show about HIS pay and he responded with something like "Well, my pay is based on Fortune 500 companies, etc. etc." Why isn't he getting something like airline industry AVERAGE? The next highest paid CEO of an airline makes a third less than he does in base salary. Where is his XX + $1 or 1%?? No, he'll use all the banks, entertainment companies and tech companies as a comparison. I guess the last one fits because he said in the press that airlines are nothing but IT companies with wings. Maybe that does justify his pay then.

Fine if you want to say that about FedEx/UPS but SWA IS our segment of the industry and they seem to do just fine. No they are no longer hedged at ridiculously low oil prices either. Management will do everything they can to keep SWA out of the discussions but we can all see the value of an airline pilot.