Netsjets "COLA"
 

I wonder if someone could clear this up for me. If you look at the payscale charts for NJ pilots, there is something called COLA...what in the world is that?

Cost Of Living Allowance

Thanx Mr Payne. Thats damn good compensation! NJ seems like a firts class operation all around.

So you are not confused in the future, COLA is actually Cost Of Living Adjustment; not Allowance. Just a minor verbal technicallity.

Definition:
An annual adjustment in wages to offset a change (usually a loss) in purchasing power, as measured by the Consumer Price Index (CPI). The Consumer Price Index is used rather than the Producer Price Index (PPI) because the purpose is to offset inflation as experienced by the consumer, not the producer.