Profit sharing 2019
10-24-2019 | 08:58 PM
#61
Line Holder
Joined: Mar 2016
Posts: 972
Likes: 1
Using BlueJet’s formula, instead of DAL’s, with DAL pre tax income and eligible wages would produce a lower profit sharing percentage for DAL employees.
Using DAL’s, instead of BlueJet’s formula, with BlueJet’s pretax income and eligible wages would produce a larger profit sharing percentage for BlueJet employees.
Simple as that.
Using DAL’s, instead of BlueJet’s formula, with BlueJet’s pretax income and eligible wages would produce a larger profit sharing percentage for BlueJet employees.
Simple as that.
10-25-2019 | 02:33 AM
#62
The REAL Bluedriver
Joined: Sep 2011
Posts: 6,935
Likes: 0
From: Airbus Capt
Delta made $1.5 billion in the third quarter alone. It's not their profit sharing formula that produces results, it's that Delta as a company generates more income than JetBlue.
https://s2.q4cdn.com/181345880/files...ter-Profit.pdf
In 2018 Delta made $10 billion.
https://s2.q4cdn.com/181345880/files...018-Profit.pdf
https://s2.q4cdn.com/181345880/files...ter-Profit.pdf
In 2018 Delta made $10 billion.
https://s2.q4cdn.com/181345880/files...018-Profit.pdf
If not for the 5% cliff which is absolutely unique to JB (5% cliff simply means JB keeps the first 5% of profit sharing for pilots, for themselves), the payout would have been 5.2%. That's still with the non-standard 10% of pre-tax earnings pool. If the profit sharing pool was the more industry standard 15%, which coincidentally is what it was just a few years ago at JB, the payout would have been 7.53% of your wages.
Those two seemingly innocuous provisions that are unique (the 5% cliff) or nearly unique (10% of pre-tax earnings instead of the more standard 15%) removed 97.34% of the profit sharing payout. 97.34% of the payout wiped out by
2 small adjustments to the formula. It's the FORMULA that's rotten. Because culture and values.
10-25-2019 | 06:04 AM
#65
Gets Weekends Off
Joined: Dec 2008
Posts: 3,150
Likes: 0
From: Left,Right, Left, Right,Right,Left, Right, Left
too hot turn on APU. too cold turn on APU. Seems pretty self explanatory to me but yet... so hard for some.
10-25-2019 | 06:33 AM
#66
Gets Weekends Off
Joined: Aug 2005
Posts: 324
Likes: 0
If not for the 5% cliff which is absolutely unique to JB (5% cliff simply means JB keeps the first 5% of profit sharing for pilots, for themselves), the payout would have been 5.2%. That's still with the non-standard 10% of pre-tax earnings pool. If the profit sharing pool was the more industry standard 15%, which coincidentally is what it was just a few years ago at JB, the payout would have been 7.53% of your wages.
10-25-2019 | 08:05 AM
#67
Line Holder
Joined: Mar 2016
Posts: 972
Likes: 1
The company is in better shape than it has ever been and PS disappeared.
That was intentional. The colored charts and carrying tone from management is simply the culture in full display.
10-25-2019 | 08:21 AM
#68
The REAL Bluedriver
Joined: Sep 2011
Posts: 6,935
Likes: 0
From: Airbus Capt
Yep, fat fingered some maffs. Reality is even worse than my example, go figure.
10-25-2019 | 09:30 AM
#69
Line Holder
Joined: Aug 2008
Posts: 535
Likes: 1
Thread
Thread Starter
Forum
Replies
Last Post
