Call me crazy, and I don't have any way to back it up, but I'd venture to say that a 4th year FO at AWAC has the potential to earn more, or at least around the same amount as a reserve captain at Colgan. Sure, there would be a discrepancy in the amount of work, but still. (ie. 4th year FO working every day possible and picking up trips on days off.)

I'm a 3rd year FO at AWAC, and have been on reserve all of last year making about 35k without per diem. I have very rarely broken guarantee. The months I did break guarantee, were if I picked anything up on days off, but that was only a couple of times, and it didn't equate to much without the added per diem. I could easily see making over 50k as an FO here if you decide to work that hard and can hold a line.