NetJets Tentative Agreement - thoughts?
#42
#43
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Those who are debating about whether or not to sign up for an interesting career that will include a whole lot of flogging need to understand the numbers and how they will pertain to the remainder of their career. The primer doesn't really show that unless you spend the time to analyze the actual numbers for each year of service. The actual numbers show that even though the very top of the scales and the very bottom of the scales were able to keep within sight distance of pay at at the majors (not including retirement), those middle 12 years are a whole lot of career left in the dust. The pay scales at NetJets go up very evenly from year one to 14 while the airlines crank up the FO pay greatly for a few years before evening out to a slow climb and they start the PIC scales quite high at year one and they don't get so wildly different by the top. The monetary difference over a career is just massive, not even including the staggering difference in retirement contributions from the employers. The pay scales are simply light years behind over a career.
#44
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When the new TA came out, I did a VERY detailed financial comparison for myself (39 years old, year 3 Phenom PIC). I accounted for variables such as profit sharing, health insurance, DC, etc.
I used my current position at NJ as a PIC with 25.5 years left until age 65 compared to a move to a Major that has a hub where I live. I assumed not upgrading until year 8 at said Major since the current most junior Captain is a year 8 guy and I don’t want to commute to a junior base just to have a fourth stripe.
Interestingly, with choosing to wait to upgrade, the break even point on annual income is actually 16 years if I make the move. From that 16 years to retirement however, my salary would be far greater by making a move. On the order of $900,000 over 25.5 years.
The retirement account is where the real difference is seen. Going to a Major airline now means a difference of $5 million in my 401K.
So, while the new TA would offer a respectable income and retirement, it will earn me about $6 million less than a move to a Major airline. This is all while working on average 72 less days a year AND not working 12-14 hour duty days for 7 days straight.
Obviously, the difference for someone even a few years younger would be exponentially greater. We’re talking multiple millions more.
I used my current position at NJ as a PIC with 25.5 years left until age 65 compared to a move to a Major that has a hub where I live. I assumed not upgrading until year 8 at said Major since the current most junior Captain is a year 8 guy and I don’t want to commute to a junior base just to have a fourth stripe.
Interestingly, with choosing to wait to upgrade, the break even point on annual income is actually 16 years if I make the move. From that 16 years to retirement however, my salary would be far greater by making a move. On the order of $900,000 over 25.5 years.
The retirement account is where the real difference is seen. Going to a Major airline now means a difference of $5 million in my 401K.
So, while the new TA would offer a respectable income and retirement, it will earn me about $6 million less than a move to a Major airline. This is all while working on average 72 less days a year AND not working 12-14 hour duty days for 7 days straight.
Obviously, the difference for someone even a few years younger would be exponentially greater. We’re talking multiple millions more.
#45
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When the new TA came out, I did a VERY detailed financial comparison for myself (39 years old, year 3 Phenom PIC). I accounted for variables such as profit sharing, health insurance, DC, etc.
I used my current position at NJ as a PIC with 25.5 years left until age 65 compared to a move to a Major that has a hub where I live. I assumed not upgrading until year 8 at said Major since the current most junior Captain is a year 8 guy and I don’t want to commute to a junior base just to have a fourth stripe.
Interestingly, with choosing to wait to upgrade, the break even point on annual income is actually 16 years if I make the move. From that 16 years to retirement however, my salary would be far greater by making a move. On the order of $900,000 over 25.5 years.
The retirement account is where the real difference is seen. Going to a Major airline now means a difference of $5 million in my 401K.
So, while the new TA would offer a respectable income and retirement, it will earn me about $6 million less than a move to a Major airline. This is all while working on average 72 less days a year AND not working 12-14 hour duty days for 7 days straight.
Obviously, the difference for someone even a few years younger would be exponentially greater. We’re talking multiple millions more.
I used my current position at NJ as a PIC with 25.5 years left until age 65 compared to a move to a Major that has a hub where I live. I assumed not upgrading until year 8 at said Major since the current most junior Captain is a year 8 guy and I don’t want to commute to a junior base just to have a fourth stripe.
Interestingly, with choosing to wait to upgrade, the break even point on annual income is actually 16 years if I make the move. From that 16 years to retirement however, my salary would be far greater by making a move. On the order of $900,000 over 25.5 years.
The retirement account is where the real difference is seen. Going to a Major airline now means a difference of $5 million in my 401K.
So, while the new TA would offer a respectable income and retirement, it will earn me about $6 million less than a move to a Major airline. This is all while working on average 72 less days a year AND not working 12-14 hour duty days for 7 days straight.
Obviously, the difference for someone even a few years younger would be exponentially greater. We’re talking multiple millions more.
I stopped reading when you said you lived in base at a legacy airline 😂. IMO, that’s a simple choice.
For those living in middle of nowhere, a few years older, a few kids, a 2 leg commute etc….. might not be worth it of course.
#46
Gets Weekends Off
Joined APC: Mar 2023
Posts: 277
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When the new TA came out, I did a VERY detailed financial comparison for myself (39 years old, year 3 Phenom PIC). I accounted for variables such as profit sharing, health insurance, DC, etc.
I used my current position at NJ as a PIC with 25.5 years left until age 65 compared to a move to a Major that has a hub where I live. I assumed not upgrading until year 8 at said Major since the current most junior Captain is a year 8 guy and I don’t want to commute to a junior base just to have a fourth stripe.
Interestingly, with choosing to wait to upgrade, the break even point on annual income is actually 16 years if I make the move. From that 16 years to retirement however, my salary would be far greater by making a move. On the order of $900,000 over 25.5 years.
The retirement account is where the real difference is seen. Going to a Major airline now means a difference of $5 million in my 401K.
So, while the new TA would offer a respectable income and retirement, it will earn me about $6 million less than a move to a Major airline. This is all while working on average 72 less days a year AND not working 12-14 hour duty days for 7 days straight.
Obviously, the difference for someone even a few years younger would be exponentially greater. We’re talking multiple millions more.
I used my current position at NJ as a PIC with 25.5 years left until age 65 compared to a move to a Major that has a hub where I live. I assumed not upgrading until year 8 at said Major since the current most junior Captain is a year 8 guy and I don’t want to commute to a junior base just to have a fourth stripe.
Interestingly, with choosing to wait to upgrade, the break even point on annual income is actually 16 years if I make the move. From that 16 years to retirement however, my salary would be far greater by making a move. On the order of $900,000 over 25.5 years.
The retirement account is where the real difference is seen. Going to a Major airline now means a difference of $5 million in my 401K.
So, while the new TA would offer a respectable income and retirement, it will earn me about $6 million less than a move to a Major airline. This is all while working on average 72 less days a year AND not working 12-14 hour duty days for 7 days straight.
Obviously, the difference for someone even a few years younger would be exponentially greater. We’re talking multiple millions more.
#47
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Interview next week, and if I am lucky enough to get the offer, absolutely! The money isn’t even the primary motivator. Just got back from a tour, two fatigues, and I still feel like I was pushed through a meat grinder; unfortunately that will never change at NJ.
#48
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Joined APC: Mar 2023
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What does that tell you?
#49
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