Originally Posted by
Beans
Couldnt agree more with your statement!! Its like the DC plans and how everyone has fallin in love with the 14-16% that most have meow. Ask me what that 16% is worth when the market turns again. We forget that this economical boom for the airlines wont last forever. This is a feast or famine industry period and it will always be because its so tied to the small economical ups and downs.
The entire point of the 16% contribution is that if you make $265k the company pays you an additional $42k tax-free that goes into an account you can invest any way you want. So you think its all going to tank? The put it in a money market. I look at it as extra pay. So my hourly rate is $265 but I'm actually making $307 because that $42 extra dollars per hour is real money. I hope to leave at 60 or earlier just because of the 16% company contribution.
My recommendation is take the contract while you can. Its not worth waiting around.