I have had a lot of conversations with friends and clients over the last two years about this very thing. I am NOT bashing my company, and I (generally) love my job. That said, getting hired into this operation (FedEx) in 2014 is strapping yourself to a company in the middle of cost cutting to improve margins and fighting hard to reduce current and future labor costs. Unlike other companies, where there is at least a hint of "cooperation" between the pilot group (our management still won't say "union", but says "association" instead) and management, we are cultivating a declining climate of morale, not an improving one. We may grow, but the grow will be organic and incremental. We will replace pilots as they retire, and so far it seems we will have the 4000-4400 pilot group we've had for the last decade.

The legacies, on the other hand, are facing a steep cliff of retirements, and they are moving to reclaim flying pawned off the the regionals in the 1990s and 2000s. The combination means faster advancement and more growth than the legacies have seen in 20 years. Comparing joining Delta in 2000 to joining FedEx in 2000 will give you a very different model than doing the same comparison in 2014.

We have a pension. Its great. I love it. But the company wants to take it and replace it with a DC plan (like Delta and the other legacies). I don't think they will get it--but the point is they are trying to shift the burden of retirement risk to the pilot group. Will we still have an A plan if you come here 20 years from now? How hard are YOU willing to fight to keep it? You may prevail, but its been made clear you will have to fight each round to keep it going.

So--that leaves us with the "other" benefits of the companies:

FedEx: Payrates. Pension. Insurance benefits. No flight attendents. Fewer (sometimes) legs. Week on/off schedules. Stability (for now). A 75% discount on shipping. Jr domicile: Bases MEM, IND, ANC (shrinking), LAX (senior), CGN, HKG

Delta: Rising pay. Flight attendants (can be a pro if you are single, I guess). Daylight flying. Non-rev travel. 75% discount on FedEx shipping. (Yep--you get the SAME benefit we do...) Bases: ATL, DTW, MSP, JFK, SEA (senior), LAX (senior), SLC. 12 hour reserve callout (a wish list item on my list...)

When I look at "upside", it seems there is a lot more available at Delta. Then again, our company has shown it can survive a downturn. Pax carriers furlough. But...if you are gambler, and have some ways to mitigate the risk, I don't think anyone has seen a hiring wave like this one in the last 2 decades.