NetJets Hiring Process
12-31-2021, 09:59 PM
#901
In a land of unicorns
Joined APC: Apr 2014
Position: Whale FO
Posts: 6,473
Originally Posted by ASACapt
Never said we are the best paid. I know we are not. Compensation comes in many forms with soft money, work rules, trip/duty rig, etc.
My buddy at Kalitta says he airlines out on day 1 as part of his schedule. He’s out for 16 days. They airline him home on day 17 which uses his day off. Same for my buddy at Atlas.
My Omni buddy got his last choice. His line works 3 weeks straight of being gone. No thanks.
How many days straight were you gone to make that $17k? The most I was gone was 11 days in one tour and that was my own doing. We can make over $20K in those 11 days. Normally I’m only gone 7 days followed by 7 off.
While we don’t have DC, our FDP comes pretty close to it. 33% of our FDP is put in our 401k. FDP is our version of DC. $16k of my FDP was put in my 401K. FO’s FDP are paid the same as captains. Your annual 2% DC is only $4224 using your $17600 monthly income number. I and many first year first officers beat your DC by about 378%
We put $19500 in our 401k and then NetJets matches that at 58%. That 58% is $11310 of free money.
$19500+$11310+$16000= $46,810 for 1 year of retirement savings. Run the numbers of the legacy DC and 401K plans and you’ll see NetJets is pretty close.
Assuming your company matches all of your 19500 then that is only $1950. 19500+1950+4224 is $25674 total retirement savings for 1 year at your company.
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My buddy at Kalitta says he airlines out on day 1 as part of his schedule. He’s out for 16 days. They airline him home on day 17 which uses his day off. Same for my buddy at Atlas.
My Omni buddy got his last choice. His line works 3 weeks straight of being gone. No thanks.
How many days straight were you gone to make that $17k? The most I was gone was 11 days in one tour and that was my own doing. We can make over $20K in those 11 days. Normally I’m only gone 7 days followed by 7 off.
While we don’t have DC, our FDP comes pretty close to it. 33% of our FDP is put in our 401k. FDP is our version of DC. $16k of my FDP was put in my 401K. FO’s FDP are paid the same as captains. Your annual 2% DC is only $4224 using your $17600 monthly income number. I and many first year first officers beat your DC by about 378%
We put $19500 in our 401k and then NetJets matches that at 58%. That 58% is $11310 of free money.
$19500+$11310+$16000= $46,810 for 1 year of retirement savings. Run the numbers of the legacy DC and 401K plans and you’ll see NetJets is pretty close.
Assuming your company matches all of your 19500 then that is only $1950. 19500+1950+4224 is $25674 total retirement savings for 1 year at your company.
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It seems you don't understand how 401K and matching works. I don't feel like explaining it right now, try googleing it, but you are off by a factor of 10.
hint. it is a 100% match, up to 10% of earnings. Yours I believe is 58%, up to 20%. In your example, I would get 19500 of "free money" against your 11310.
12-31-2021, 10:04 PM
#902
Gets Weekends Off
Joined APC: Jan 2015
Posts: 1,063
$265K for me in 2021. 14yr FO, CC72, roughly a dozen extended days. Many FOs did better than that.
Upgrades in 2022 projected between 150 and 250. We exceeded our hiring projection for 2021 and are planning on more hires for 2022 than 2021. If we hit 250 upgrades in 2022, then some of our 2005 hires will be getting their fourth stripe. That would be a seven-year upgrade.
Upgrades in 2022 projected between 150 and 250. We exceeded our hiring projection for 2021 and are planning on more hires for 2022 than 2021. If we hit 250 upgrades in 2022, then some of our 2005 hires will be getting their fourth stripe. That would be a seven-year upgrade.
01-01-2022, 03:58 AM
#903
Gets Weekends Off
Joined APC: Dec 2005
Posts: 285
NetJets Hiring Process
Originally Posted by dera
My December was a split trip schedule, 7 day trip and a 9 day trip.
It seems you don't understand how 401K and matching works. I don't feel like explaining it right now, try googleing it, but you are off by a factor of 10.
hint. it is a 100% match, up to 10% of earnings. Yours I believe is 58%, up to 20%. In your example, I would get 19500 of "free money" against your 11310.
It seems you don't understand how 401K and matching works. I don't feel like explaining it right now, try googleing it, but you are off by a factor of 10.
hint. it is a 100% match, up to 10% of earnings. Yours I believe is 58%, up to 20%. In your example, I would get 19500 of "free money" against your 11310.
I very much understand 401k. You can only put in $19500 in 2021. It doesn’t matter what % match is. It’s still a total amount of $19500.
I would love to see your 401k math getting free $19500 with a 10% match without exceeded the IRS limit.
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01-01-2022, 05:30 AM
#904
New Hire
Joined APC: Dec 2021
Position: Challenger 350 SIC
Posts: 4
NJA matches 58% up to 20% of income in that physical year. Then at the end of the year makes a lump sum 58% match to ANY amount over and above the 20% up to 100% if you could do that, but you cannot due to IRS limits. Also 1/3 of your FDP goes in the 401K, this is non elective so the limit is different, I believe around $58k. Pilots are maxing out their 401K both in elective and non-elective by the end of summer. The 401K at NJA is much more robust than what you read in the profile.
01-01-2022, 06:24 AM
#905
New Hire
Joined APC: Feb 2019
Posts: 6
Originally Posted by ASACapt
I very much understand 401k. You can only put in $19500 in 2021. It doesn’t matter what % match is. It’s still a total amount of $19500.
Last edited by Jp4995; 01-01-2022 at 06:27 AM. Reason: Misread post
01-01-2022, 06:26 AM
#906
Mmmm wine
Joined APC: Feb 2020
Position: A220 FO
Posts: 945
Originally Posted by Das Auto
Playa? That's Spanish for beach right? Also back in 2015, Barrack Obama was still president, the dow Jones was half what it is today, uptown funk was number 1 in the charts and you were a bitter F.O. in the right seat of a Phoenom.
Things have changed since then, including upgrade times at NetJets!
Things have changed since then, including upgrade times at NetJets!
01-01-2022, 06:29 AM
#907
Mmmm wine
Joined APC: Feb 2020
Position: A220 FO
Posts: 945
Originally Posted by illinipilot
👍 The are still a bunch of '06 hires who are still FOs. I believe that telling people that it is anything other than a 15 or 16 year upgrade currently is disingenuous.
01-01-2022, 07:05 AM
#910
Gets Weekends Off
Joined APC: Dec 2005
Posts: 285
NetJets Hiring Process
Minrest didn’t like it at Netjets. He went to a major airline. He enjoyed a taxpayer paid vacation during covid and made Capt at his airline. Yet he keeps coming back to trash Netjets. Why? Do you regret your decision? Is the grass not greener?
Dude, many of us went through hell at the company so you can enjoy the slight improvement of the 2015 contract. Yup the place still sucked pretty much until 2018. You left before you can see how good we have made it today. I couldn’t wait to leave and in 2018 I decided to make this a retirement destination with all of the improvements. Do the upgrade times suck? Absolutely. Until there is an age limit is that produces any attrition besides growth then that’s just the way it is when you come to ANY non-121 operation.
Flex has finally decided to raise their compensation because of the improvements we have made at Netjets. Their welcome. Good for them. I also have friends at several charter operators that have also received pay raises because of Netjets.
It’s a shame you just can’t be happy for all of us. An improvement for one is usually an improvement for all. Maybe you aren’t happy no matter where you go. I don’t know. I do think it’s time to move on from Netjets though.
Dude, many of us went through hell at the company so you can enjoy the slight improvement of the 2015 contract. Yup the place still sucked pretty much until 2018. You left before you can see how good we have made it today. I couldn’t wait to leave and in 2018 I decided to make this a retirement destination with all of the improvements. Do the upgrade times suck? Absolutely. Until there is an age limit is that produces any attrition besides growth then that’s just the way it is when you come to ANY non-121 operation.
Flex has finally decided to raise their compensation because of the improvements we have made at Netjets. Their welcome. Good for them. I also have friends at several charter operators that have also received pay raises because of Netjets.
It’s a shame you just can’t be happy for all of us. An improvement for one is usually an improvement for all. Maybe you aren’t happy no matter where you go. I don’t know. I do think it’s time to move on from Netjets though.
Last edited by ASACapt; 01-01-2022 at 07:35 AM.
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