View Single Post
Old 06-15-2020, 05:34 PM
  #532  
rickair7777
Prime Minister/Moderator
 
rickair7777's Avatar
 
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,261
Default

Originally Posted by senecacaptain View Post
Airline: boom and bust cycles with big money during the boom times. 200-300k etc a year Big-3. May "get rich" may also get very broke. May never fly with the same Captain ever. 10,000+ pilots each Major etc. Set parking brake, you are done. Loose your medical may be a big deal. everything is about seniority. Aircraft is a tool to make money. Point A to Point B. Houston to Tulsa. Airline jobs are about making the company money, and making yourself money
A few points of clarity...

$200-300K is for FO's. CA's will make $400-700K. That will be reduced for a year or two with covid, and if things get really ugly BK proceedings could set things back for years, time will tell. The mid-tier majors are not far behind that either.

The better majors (including mid-tier) generally have own-occupation disability. If you lose your medical you get 50-60% until age 65. That combined with some other generic job will keep your current lifestyle, if you're somewhat prudent.

I know folks who don't play the boom/bust game... when they get in the money, they bank it hard. I know people who can retire any time after age 50 if the airlines get ugly. Some will, rather than put up with covid-induced schedule and lifestyle disruptions. You only need one boom cycle to set yourself up, if so inclined. Then it's all gravy after that.

Works better if you take some personal responsibility. If you're just along for the ride, you'll be going for a ride unless your timing is exquisitely lucky.

The better majors have pretty good bennies, some of which extend into retirement. A few still have pensions (cargo). If you're military, your retirement medical plan should be tricare, even if you have to run out the clock at a desk in the reserves.

Airlines (especially the better ones) provide a lot of flexible time off. You never have to be at work just because it happens to be during normal working hours. No collateral duties, ever.

I do miss having regular co-workers, rarely do I fly with people I know, who I enjoy getting a beer with, on a schedule that's conducive to beer. May have to volunteer with the union after I retire from the mil... which amounts to seeking out collateral duties.



Originally Posted by senecacaptain View Post
two different worlds
Yes indeed.
rickair7777 is offline