Originally Posted by fosters
Note figures below include per diem (about $5,000 per years worth), but do not include 401(k) company match. They are also based on getting lines in the 90-hour area.
1st year - $30k Total so far: $30k
2nd year - $40k Total so far: $70k
3rd year - $40k Total so far: $110k
4th year (CA) - $70k Total so far: $180k
5th year (CA) - $73k Total so far: $253k
Keep in mind these figures are for people who actually WORK, not sit reserve (either by choice or because that's what they can hold) and for people that bid high credit lines. It seems most people are bidding the commuter friendly schedules, which makes most of the high credit lines (ie 90+ hours) available for the junior guys who live in base.
Fosters - thanks for posting this. I think this conversation is important. Here are similar numbers for Colgan. I used 90 hours average pay credit for the Saab and 95 for the Beech (they work more hours). I'm also assuming these figures are for guys who actually work instead of always bidding for the most days off. Lastly, I'm assuming guys come into the company with at least 1000 hours (we do hire less) and therefor can upgrade when their seniority number comes up. I've broken it down into Beech, Saab NE, and Saab Texas. Saab pilots in Texas do multi-day trips if they want and those that do will pick up an additional $2500 to $3000 annually in per diem. I've also added PIC time. In addition, upgrade (if you have the time) on the Beech can be less than a year. I've used one year. I have also assumed the Beech guy will transition to the Saab at the end of his second year. Upgrade on the Saab is 18 months.
Year - Beech - PIC - Saab NE - Saab TX - PIC
1 - $22.8k - 0000 - $22.7k - $25.7k - 0000
2 - $36.5k - 0750 - $35.1k - $38.1k - 0350
3 - $46.4k - 1500 - $46.4k - $49.4k - 1100
4 - $48.6k - 2250 - $48.6k - $51.6k - 1850
5 - $49.7k - 3000 - $49.7k - $52.7k - 2600
Total - $204k - - $203k - - $217k
So our total pay is about 35 - 50k less than yours as I suspected. But here's the difference for me. I'm two years ahead (on the career path) of a guy at a company with a three year upgrade (or more) because by the end of my third year I have 1100 to 1500 hours of turbine pic time. There're still waiting for upgrade. Two things - we all know this career can be unstable and have it's ups and downs. And without turbine pic time the next level is all but impossible to get to. At Colgan I've only been exposed to 1 to 2 years of something happening as opposed to 3 or more years elsewhere (just ask a senior Eagle FO how many times he has "almost" made it to upgrade only to be pushed back). In this environment miminizing time in the right seat (unless you have the age to spare) is very important at the sub-major / sub - career destination level. So my risk exposure is at least 30% less. Secondly, lets say I get lucky and get picked up by a major in my fourth or fifth year (which is happening here at Colgan). I'm now at least two years ahead of them which means at the very least I'll have two more years on my career as a captain. Since senior captains' salaries at majors are roughly 70K more than senior FO's, that's at least an additional $140k I will make in my career (actually more because of senority) because I got the turbine PIC time quicker.
This was an important analysis for me (I'm over 40). It's why one of my biggest priorities was a quick upgrade. I'm resistant to furlough, I've got PIC time, and just maybe a few more years at the next level. That said I also have made the decision that I'll stay at Colgan if I don't get hired at CAL, SWA, etc. I've built my life now around that potential possibility and resultant pay scales.
Originally Posted by fosters
The pay rates listed here are misleading. I flew 55 hours of FAR block time in April but credited 102 hours. This month I will be close to 100 as well, same goes for June. I'm also a junior FO.
How do you block 55 hours and get paid for 102? Typically I block 78 - 85 hours and get paid 90 - 100 (I averaged 93 pay credit hours per month in the last year). I've heard this before at other regionals and have always wondered...