ExpressJet/ASA Merger Facts
01-29-2012 | 01:50 PM
#41
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From: ERJ145 Captain
Ok we can go down that road, since I was trying to make this a factual thread. You have to understand that hourly pay is such a small indicator of compensation. Work rules are the most controlling thing when having this conversation. If you just look at our retirement, we end up receiving close to 12% with all of our provisions. We're getting close to the end of the year, so let's compare apples to oranges. I invite anyone who is not on first year FO pay to participate.
Im a 5 year FO at XJT, in 2011 I worked just over 700 hours and made 51K, and the company contributed 6K to my 401K. My hourly rate is 40, but our work rules make it the equivalent of 70+. Now do you understand? Its all about work rules. The company could give me a 30/hour raise with a crappy contract and it's still a concession! Don't focus all your energy on the hourly rate, that's exactly what they want you to do.
Im a 5 year FO at XJT, in 2011 I worked just over 700 hours and made 51K, and the company contributed 6K to my 401K. My hourly rate is 40, but our work rules make it the equivalent of 70+. Now do you understand? Its all about work rules. The company could give me a 30/hour raise with a crappy contract and it's still a concession! Don't focus all your energy on the hourly rate, that's exactly what they want you to do.
I've been thinking about this post a lot lately and I just recently figured out how to find your contract. Wouldn't you have to make over 100k for the company to match 6k in your retirement?
If I'm wrong, someone please school me.
You get schooled a lot on this forum, don't you?
01-29-2012 | 02:51 PM
#42
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From: EX - OHJFKCRJFO
He asked an honest question respectfully...
Attitude problem much?
01-29-2012 | 03:56 PM
#43
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At the 5th year of service assuming he made 51K, the company would match the initial 5% to contribute $2550, then an additional 4% to add in $2040 according to the Defined Contribution Plan. This would be a company contribution of 9% for a total of $4590 with the pilot contributing a minimum of $2550. I still didn't get to 6k, but 4600 is still impressive.
aha! Thanks, should have read section 25 B.
With ASA's terrible contract in mind I didn't realize there was a defined contribution and stopped at 25 A.
I want a defined contribution too!
01-29-2012 | 03:59 PM
#44
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From: CRJ200 Capt.
Comair had a defined contribution...They gave it back during the concessions...
01-29-2012 | 04:03 PM
#45
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You're half right; I comprehended what I read, but didn't read enough.
Based on longevity, the company would have matched up to 5% of the contribution. What's your point?
I come here mostly to get schooled, so yes.
01-30-2012 | 09:44 PM
#46
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From: EMB 145 CPT
Comair had a defined contribution...They gave it back during the concessions...
Last edited by Nevets; 01-31-2012 at 04:28 PM.
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