Originally Posted by
StrikeTime
Correct, it has been low for many years and it has kept getting lower. But it doesn't have to stay that way. Five years ago the threat of bankruptcy by management was a tactic used to sustainably lower wages and increase profit margins for there big bonus checks as well as the shareholders, with no language written in there to one day restore what once used to be part of the career.
First year FO pay has not been getting lower. Its been abysmal for a long time. More senior pay has been decreasing, THAT is where the concessions have come.
Originally Posted by
StrikeTime
Now to specifically address what you wrote, how is one supposed to plan ahead when these concessions were decided upon by certain individuals in a union? One might have financially planned him or herself to survive paycheck to paycheck on the current wage, but then the concessions came in. And it looks like more may be coming with the attitude of certain individuals in this industry.
Again, the concessions have hit the higher ups in terms of reduced pensions and other cuts. The first rungers haven't really seen a decrease. Perhaps the lack of COLAs over the years may have dropped the value of the wage.
Originally Posted by
StrikeTime
On a personal note, I just had a friend downgraded within the last year. 2nd year Captain back in the right seat. How was he supposed to financially plan himself? He went from $70,000, to $35,000. Show me an industry where a cut that drastic can occur. Someone mentioned in another thread that FO's should be paid 75% of a captain's salary. I think that is a very fair number.
I cannot differ with you there. That hurts bad. However, hopefully more pilots going forth will not radically increase their lifestyle upon upgrade but rather keep a larger reserve going. Flying is unlike most other jobs. You cannot live at (or even near your means) because the chance of a change in your income is great. Bank the extra money and feel good doing it, because likely there will be a cessation of income in the future. If you graphed it, you'd find the average income of a pilot falls below the peaks and above the lulls. Planning accordingly goes a long way.