End of 2021 salary survey
#551
Gets Weekends Off
Joined APC: Dec 2019
Posts: 1,870
or if you put in 19,500 the company can only put in 38,500.
#552
Gets Weekends Off
Joined APC: Jul 2021
Posts: 1,035
I think you’re saying the same thing. I think it’s understood that in most contracts the excess comes back in cash in one way or another.
#553
Gets Weekends Off
Joined APC: May 2006
Posts: 1,024
as far as the 401(k) not even close.
you said Legacy.
a legacy pilot is getting a 15-16% DC depending on the airline.
lets say a top captain making $350,000 at 15%
is $52,500 plus the IRS limit ($19,500) of what they contribute is $72,000.
heck even a top Spirit captain this year, can put more away in their 401(k) than that range you mentioned.
you said Legacy.
a legacy pilot is getting a 15-16% DC depending on the airline.
lets say a top captain making $350,000 at 15%
is $52,500 plus the IRS limit ($19,500) of what they contribute is $72,000.
heck even a top Spirit captain this year, can put more away in their 401(k) than that range you mentioned.
#554
Gets Weekends Off
Joined APC: Oct 2017
Posts: 3,003
The DC at all the majors is what I try to tell guys at NetJets about and to understand just how much better it is. Almost everyone just compares the 401K and company match to people they know who aren't pilots and get a worse deal. I honestly don't think most believe me when I tell them that our 56%, or whatever it is currently, match is peanuts. We have to max our own money to get anywhere near what all the majors just deposit in the DC before any 401K contributions. We had to add another way to get retirement funds that is still just us self funding it- 1/3 of our FDP (extra flight pay) goes into our 401K as a DC, but it is our own money that we only make when we fly a lot. Most of us had a banner year last year, but we have a lot more to improve to be on par with the majors. No DC fund is a big reason so many pilots work into their 70s at NetJets. I am constantly shocked at how many captains don't even max out their 401K to get the company match. Those dudes aren't retiring until they medical out.
Thread
Thread Starter
Forum
Replies
Last Post