One hour of pay = 1.149 TFP for comparison purposes. It's stupid, I know. It baffles me to no end, but the smart people tell me it is to our advantage, so I believe them.
It is a formula based on mileage or block time based on which is greater during the flight.

You are going to a career carrier. If being a captain is important to you, don't come here. We are one merger away from a reeeeaaaaaly long upgrade time. I am personally ok with being a FO for a long time. The pay and QOL as a lineholding FO are pretty danged good.