I am currently working as an FO at Cherry Air. Right now, we only have one aircraft running (CCY163 on flight aware). The first officer pay is 24k base and $0.06/mile with a monthly guarantee of 10,000 miles. Currently we have no benefits like health insurance but they say it is on the way. As an FO, they do an SIC type and you will receive in house training with the sim work at Flight Safety DFW.
This falcon and the next ones coming are not RVSM and are not equipped with an IFR GPS, or reliable radar. Also, they will all have the old CF700 engines which means you will be constantly be running around min fuel. The only aircraft is working well mechanically. Maintenance went through it before it returned to service and so far we have few complaints.
Currently we only have one crew and therefore no schedule but, once new crews are trained it will be a ten and five schedule. When on call, you are expected to be off the ground one hour from the phone call. So you can not be any further than 30 min from Addison. This is on demand so there is no set flight schedule. We rarely have much advanced notice and you are continuously waiting by the phone both in Addison and on the road.
I hope this helps.