Peak-trips
11-22-2016 | 01:47 PM
#13
Line Holder
Joined: May 2014
Posts: 63
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That's what I thought... until I saw the deductions. You may be surprised. Only expect to take home 1/2 of what you think you'll make. Mil take-home pay is much sweeter due to less taxable income.
11-23-2016 | 11:49 AM
#15
Gets Weekends Off
Joined: Aug 2006
Posts: 1,813
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Huh? You must not be working for a big airline or you need to find someone to do your taxes.
11-23-2016 | 12:24 PM
#16
Gets Weekends Off
Joined: Dec 2007
Posts: 404
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From: Retired
If you figure Social Security for about the first six months of the year, Medicare, Federal withholding and state withholding, (if you live in a state tax location), 401(K) contributions, medical, dental, and vision insurance for the family, you can easily be at about 45%. If you opt to participate in the Optional Savings Plan (or whatever it is called these days), and the Employee Stock Purchase Plan you will be at 50% pretty quick.
11-23-2016 | 02:24 PM
#17
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Joined: Aug 2006
Posts: 1,813
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If you figure Social Security for about the first six months of the year, Medicare, Federal withholding and state withholding, (if you live in a state tax location), 401(K) contributions, medical, dental, and vision insurance for the family, you can easily be at about 45%. If you opt to participate in the Optional Savings Plan (or whatever it is called these days), and the Employee Stock Purchase Plan you will be at 50% pretty quick.
If you did the same type of savings in the mil, (i.e. $53K plus) and took that out of your take home pay plus federal, state, SS, and medicare tax, I bet you would be over 50%. Just taking out the $53k from an O-5 would be about 30%.
11-25-2016 | 04:23 PM
#18
Gets Weekends Off
Joined: Jul 2006
Posts: 505
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I understand what you are saying and I do all of that and am closer to 35%.
If you did the same type of savings in the mil, (i.e. $53K plus) and took that out of your take home pay plus federal, state, SS, and medicare tax, I bet you would be over 50%. Just taking out the $53k from an O-5 would be about 30%.
If you did the same type of savings in the mil, (i.e. $53K plus) and took that out of your take home pay plus federal, state, SS, and medicare tax, I bet you would be over 50%. Just taking out the $53k from an O-5 would be about 30%.
11-25-2016 | 05:27 PM
#19
Gets Weekends Off
Joined: Dec 2006
Posts: 2,097
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I wonder if this might be a different sort of peak, in some seat positions. In my position, we appear to be grossly overstaffed. No AVA even the days around Thanksgiving, with winter weather coming. Maybe we'll be scrambling to get trips and be allowed to drop in December, if they don't feel a need for AVA. Nah...
11-26-2016 | 05:04 AM
#20
Gets Weekends Off
Joined: Apr 2013
Posts: 1,626
Likes: 0
Always have a budget and don't spend more than you make. I can't tell you how many 777 CAs I've flown with who have incredible incomes but they are broke.
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