Originally Posted by
Timbo
Earlier today my wife made the observation; "Hey, if we could just get that extra 4.85% every month, it would be like your OLD paychecks!" And I had to remeind her, Yeah but, I was a domestic 757 driver back then, not a 777 Capt...
I don't know about you guys, but getting such a small piece of our pie (4.85%) back, once a year, when we gave up 42%, plus our DB money, just ****es me off, more than makes me want to celebrate.
Kind of a painful reminder of exactly how much we gave away.
Sure it's better than getting zilch, no doubt, but still...it would be nice to have that little 'extra' every month.
I'm sure Ed won't be getting any sleep tonight though...
Timbo.
Your post made me do some research that's pretty darn depressing.
In February 1995 I was a four year 727 First Officer. My hourly rate was $98.48. I contributed 6% to the Family Care Savings Plan, so my effective rate was $92.57.
Seventeen years later I'm an A-320 Captain and my hourly rate is $175.00 an hour. Because I'm a dead zoner I contribute 25% to my retirement (including the over 50 catch-up contribution). That makes my effective rate $131.25. (And I'm not getting into the degradation of our medical plan ...)
So using an inflation calculator, $92.57 in 1995 dollars equates to $136.63 in 2011 dollars. I'm essentially making five bucks an hour less as a 22 year A-320 Captain than I was making as a 4 year 727 First Officer, barely off B-scale!
I guess this would be the point that Slow, Sailing, Alfa, or PG will chime in and tell me how great I'm doing....
It sure doesn't feel it from where I'm sitting.