Originally Posted by
ASACapt
I used to do a lot of contract flying with the company’s approval until 2018. You’ll find that it’s just not as lucrative to do contract anymore because our pilots are paid well enough that we should not have to contract. It’s nice to be paid very well and enjoy my days off.
It’s also not really as lucrative because you have to report the contract flying to the IRS. Let’s say you made $1000/day. After I paid self employment tax and federal taxes, I brought home about $650 without any protections.
I could work an extended day at NetJets, especially while I’m above my minimum of 10.0 and make an additional $148/hour. I have more 401k match and union protections such as as an industry leading no jeopardy fatigue policy. You’ll find that it’s much easier and beneficial to just work NetJets and enjoy your time off.
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I also used to do a lot of contract flying. These days, I only do the occasional trip for a Part 91 owner that I have contracted for going back to the early 90's on three different jets that I just happened to be typed in. Mostly because he's a great guy, the trips are fun, and the Chief Pilot has been one of my best friends since 1989. My stomach usually hurts by the end of the trip from laughing so much (He's a wannabe stand-up comedian).
ASA points out, correctly, that contracting no longer has the same economic allure but it is an option if you want to meet the conditions.