The mean (not average) airline pilot salary reported from the Federal Government July 2004 salary survey was $113.82 /hr based on 20.9 hours per week. The 20.9 hours is just pay credit. Mean salary means half made more and half made less. This number does include "major" and "regional" airline pilots (surveyed FAA registered Part 121 carriers). It equates to about $119,000 annually, plus per diem, benefits, profit sharing, retirement, etc. The mean airline pilot surveyed had 11.6 years with a part 121 carrier.

There are approximately 92400 airline pilots in the US. About 65000 (71%) are employed by major airlines (legacy, LCC, Cargo) with 7400 on furlough. Approximately 20000 (22%) pilots are at what we would consider regional carriers. 4000 (4%) pilots are at fractionals and about 3000 (3%) pilots make up the misc group (charter, small large-aircraft cargo, etc). According to the FAA pilot database as of this month 79611 pilots hold a ATP certificate with a 1st class medical (minimum for holding the left seat at a part 121 carrier). Another 24537 pilots hold a comm/me/inst with a 1st class medical for a combined total of 104198 pilots. This total would also include an unknown number of private corporate pilots, general aviation pilots, etc. This total has been flat to down trending slightly for several years, even though airlines continue to take aircraft deliveries. New student starts are off sharply with the withdrawal of financing sources for flight training from the industry in the past year.

Bottom line. 81% (89% if you include major airline furloughees) of pilots with the proper certificates hold airline pilot jobs. This number is climbing. Historically when you reach about 90% employment rates, hiring gets much more difficult for companies. Those pilots available for hiring have much less experience (or too much experience) and/or minor background problems. We are seeing this now at the regional level and beginning to see it at the majors. Regionally hiring is getting very active for candidates with less than 1000 hours total time. Candidates are getting two and three offers. Regional airlines are finding their "show rates" for new hire classes dropping to 60% - 70%. Hiring majors are running their pools dry. SWA is now hiring pilots this month and putting pilots in class next month. UPS is negotiating a pay raise with their pilots.

This type of activity has occurred several times in the past 40 years, most recently in the late 1990's. One of the biggest changes this time however is the emergence of the higher paid regional jet captain. In the past regionals always provided a pilot pool for majors. However, there is a large group of regional jet pilots (about 6000 captains) that are earning salaries approaching $80,000 - $100,000/yr or more. This group as a whole is less interested in moving to a major. They don't or can't take the cut pay to first year pay, they don't want to give up their seniority or face the chance of furlough, and many have QOL that is similar or the same as flying the line at a major. And as pensions are eliminated, the last reason to move is evaporating. There will be fewer pilots available for major airlines to hire.

The only thing that will increase airline pilot salaries is a lower supply of pilots vs the number of aircraft in the fleet. This appears to be happening. And compared to other careers, yes, it is still one of the highest paying and most stable out there. Are there drawbacks? Sure. But I know of no career that doesn't have it's risks.