Signing bonus repayment
02-17-2017, 02:39 AM
#21
Gets Weekends Off
Joined APC: Sep 2016
Posts: 480
Originally Posted by PSA help
All of the WO require you to pay back some or all of the "signing" bonus if you leave early.
Here are PSA's details. I would expect the other WO to be very similar, but any PDT or Envoy guys can correct me with their details.
- If you leave before 1 year, pay it back 100%
- If you stay more than 12 months, then you get to keep at least half, but have to repay a prorated amount on the second half.
But, no training contract, so you are just paying back the bonus and nothing additional.
Also, if they haven't already, the AA WO will start paying the initial signing bonus at the completion of the checkride, and not before. Too many people are showing up, taking up a seat in a new hire class, grabbing the money and running before they even get to sims. There was a directive that came down from AAG on this, since they pay the money.
Here are PSA's details. I would expect the other WO to be very similar, but any PDT or Envoy guys can correct me with their details.
- If you leave before 1 year, pay it back 100%
- If you stay more than 12 months, then you get to keep at least half, but have to repay a prorated amount on the second half.
But, no training contract, so you are just paying back the bonus and nothing additional.
Also, if they haven't already, the AA WO will start paying the initial signing bonus at the completion of the checkride, and not before. Too many people are showing up, taking up a seat in a new hire class, grabbing the money and running before they even get to sims. There was a directive that came down from AAG on this, since they pay the money.
Meanwhile you get a retention bonus that is pro rated out if you leave.
02-19-2017, 04:16 PM
#22
Roll’n Thunder
Joined APC: Oct 2009
Position: Pilot
Posts: 3,540
Originally Posted by PSA help
All of the WO require you to pay back some or all of the "signing" bonus if you leave early.
Here are PSA's details. I would expect the other WO to be very similar, but any PDT or Envoy guys can correct me with their details.
- If you leave before 1 year, pay it back 100%
- If you stay more than 12 months, then you get to keep at least half, but have to repay a prorated amount on the second half.
But, no training contract, so you are just paying back the bonus and nothing additional.
Also, if they haven't already, the AA WO will start paying the initial signing bonus at the completion of the checkride, and not before. Too many people are showing up, taking up a seat in a new hire class, grabbing the money and running before they even get to sims. There was a directive that came down from AAG on this, since they pay the money.
Here are PSA's details. I would expect the other WO to be very similar, but any PDT or Envoy guys can correct me with their details.
- If you leave before 1 year, pay it back 100%
- If you stay more than 12 months, then you get to keep at least half, but have to repay a prorated amount on the second half.
But, no training contract, so you are just paying back the bonus and nothing additional.
Also, if they haven't already, the AA WO will start paying the initial signing bonus at the completion of the checkride, and not before. Too many people are showing up, taking up a seat in a new hire class, grabbing the money and running before they even get to sims. There was a directive that came down from AAG on this, since they pay the money.
02-19-2017, 04:50 PM
#23
Gets Weekends Off
Joined APC: Sep 2016
Posts: 755
Originally Posted by tennisguru
This also makes things easier on new hires who wash out at or before their checkride. Some people got the bonus check just a week or two before getting cut.
I do wish they would just raise the pay so all these bonuses go away.
02-19-2017, 05:27 PM
#25
Gets Weekends Off
Joined APC: Sep 2016
Posts: 755
Originally Posted by bigtime209
How much is training pay?
First year base pay is about $39/hr, so about $3000 base pay plus another $1200 per diem. That isn't bad for training pay.
Different companies have different pay structures for training.
02-20-2017, 09:45 AM
#26
New Hire
Joined APC: Jan 2017
Posts: 25
Has anyone paid back the bonus? I'm at a wholly owned and I'm sure guys have left before the 2 year point and can't keep the whole thing. They tax at an estimated 30%, so do you pay out of pocket (what the IRS took) until you get a correct w-2? Anyone that's actually done it would be greatly appreciated!
05-02-2017, 04:30 PM
#29
On Reserve
Joined APC: Nov 2013
Posts: 20
Originally Posted by Mil2Cil
They tax at an estimated 30%, so do you pay out of pocket (what the IRS took) until you get a correct w-2? Anyone that's actually done it would be greatly appreciated!
Assuming you are paying back in a different tax year (e.g., you were paid the bonus in 2016 and repaid in 2017), IRS Publication 525 covers the situation under Repayments. There are two methods (assuming you repaid more than $3000), and you get the pick whichever is more beneficial.
1. Claim a deduction on your 2017 return for the amount of the repayment
2. Claim a credit on your 2017 return for the difference in the amount of tax your would have paid in 2016 vs. what you actually paid. Example: credit = 2016 tax paid with bonus - 2016 tax you would have paid had you not received the bonus.
I believe the desktop version of TurboTax will do this calculation for you, but not the online version for some reason.
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