Question on regional to majors transition
 

Let's say you're a regional captian making 90,000 a year. You get hired by a major and your salary goes down the crapper for the first year. How do these guys support their previous standard of living. Tap in to retirement funds?

Ask me again in about a year...I'm about to start that dream/nightmare! For now, cutting back on needless expenses and plan to pick up addition flying at the guard and airline.

Who do you fly for now?

I thought you were active duty AF?

-LAFF

sorry for the sidetrack, but is it possible to make $90,000 at a regional carrier? Holy smokes, all I hear is ranting and raving about pay being around 19-22K a year... How long would you have to be there to make 90K? Like 10 years?

Ex-Mesa now full-time guard soon to be airlines again. Take home with BAH here at Andrews is about equal to $90,000 for a normal job.

The key is to temporarily put the standard of living on hold for the first year. Obviously this is going to be different for each individual, but if I may add my $0.02:

1: Start now by changing QOL and by saving as much as you can. You may need to tap into savings the first year.

2: Expect to make some changes to lifestyle. Again, it will mean different things to different people, but this may mean eating in more and out less, putting off home improvements etc., etc. However, remember that it is only temporary.

3: This can be tied into step one, but take the opportunity now to pay off whatever you may owe to help you adjust to probationary pay.

Personally, I wouldn't tap into retirement funds because this may cost you more long-term. You might want to consider contributing less into a 401k temporarily while you save that money into an account that could possibly be used to help supplement your first year pay.

And remember, this is only a temporary lifestyle change until you finish your first year.

Look at the airline profiles on the website here. If you multiply the hourly rate by 1000 you will be in the ballpark for annual salary at most airlines.

I agree with LabRat But I would add: Don’t expect to live in the same QOL style you had. You may have to slash and burn to a life style that does not resemble anything like what you have. If there are kids involved then this could be dramatic, so then consider digging into retirement. It’s not worth upsetting a young persons life that may leave lasting scares. But if you are single or married without kids, then make the investment downgrading your lifestyle for the future benefits. Nobody expects you to live in a $50,000 style when you make $90,000. But having a plan in place when the interviews come will make the transition much easier.

dont go to CAL and make 30k the first year, go to DAL and make 50k the first year :)

A lot of it depends on work rules and how much extra time you pick up.

I'll use a 5-year SKW CRJ200 CA at $64/hour. This is somewhat unrealistic, cuz most would fly the 700/900 at times for the higher pay, but there are a few 200-only bases.

Let's assume our guy flys 900 hours this year: 900x64= $57,600

Work Rules are important, with deadheads, rigs, and block or better, he probably credits an additional 15%: 1.15x$57,600 = $66,240

Vacation: Let's say two weeks (he could take more) at 3.0 hours per day: 14x3x64 = $2688

Bonuses (Operational and Financial): Let's guess $2500

Total: 66,240 + 2688 + 2500 = $71,428

Maybe our guys picks up some open time, let's say 80 hours (that's one day trip every month): 80 x 64 x 1.15 = $5,888

Now we're up to $77,316

After our guy is still there in 5 more years, his hourly rate is now $75: 75/64 x 77316 = $90,604

A CA this senior would probably stick to the 700/900, which would provide another 10% increase. You could also be a check-airman, which typically gives you a 20% override on top of everything else, so the top guys probably make $120-130K.

I've been through this a couple of times, and getting ready to do it again. One thing to remember is that you'll pay less taxes. Also, I lower contributions to 401Ks and/or IRAs. The result is that the cut in take home pay is not quite as dramatic as the gross pay cut as seen on your W2.

I do not tap retirement accounts. I have in the past accumulated some credit card debt during the probationary year (I pay those off monthly now). If you do this, just make sure you discipline yourself to pay it off quickly when you get your pay raise. This time, I may tap my home equity line of credit if necessary, rather than using credit cards. This wasn't an option in the past.

The bottom line is to try to live within your means. I'm still driving a 12 year old pickup truck, living in a 1300 sq. ft. house, and drinking cheap beer.

Luckily, this time the pay cut won't be as severe as before. I don't anticipate having much or debt to pay off come this time next year.

The simple answer, don't live liek you make $90,000 a year. But, that advise is probrably 5-8 years too late. Sorry.

Or work at a TP regional and you will not have to worry about making 90k per year; Horizon aside.