Originally Posted by
awax
Based on the few details I've seen - I say MAYBE!
10K paid quarterly over 2 years? Are they kidding?
So 5K per year divided into 4 quarters is $1,250 per quarter. $1,250 divided by 3 months is $416 per month. Let's say a new pilot is on reserve at 70 hours per month. That 10K bonus equates to just shy of 6 buck an hour....before taxes.
My public math says base rate + $5.25 after (18%) taxes per hour, based on a 70 hour month.
So there's that.
Additionally, a union rep that allows management to change compensation for new hires without a corresponding increase for incumbent pilots should be recalled ASAP or sooner. If new hires are making $20/hr that bonus is a 30% increase and that damn well better trickle up.
Sounds like the military bonus system- works out to be roughly $2-3/hr for a 5 year commitment... And they have no idea why their take rates are so low either.