Originally Posted by
ryane946
OUCH! Fixed rates for 6 years. That really sucks. I see why NetJets management is offering this to you. They want your pay frozen for 6 years while all the majors take big pay increases. I knew there was some catch to this proposal.
How about just a 3% pay raise each year to offset inflation. If your rates are fixed for 6 years, you are taking about a 3% pay cut each year, or about 20% over the life of the proposal. Sounds pretty bad to me!!
I don't know of many airline contracts that give you a longevity and an inflation increase every year. That would certainly be nice!
This IBB proposal doesn't either unless the company extends it til 2016. Then we get both which is nice.
Here is how the pay would go for someone who is a 5 year Capt in 2012 on the 7/7 schedule with an assumed 3% CPI-U adjustment each year as specified in the proposal. These rates only apply if the company extends the agreement til 2016.
2012 $100,408 (5 year Capt - current rate)
2013 $107,041 (6 year Capt)
2014 $114,110 (7 year Capt)
2015 $121,647 (8 year Capt)