Southwest retirement numbers
09-21-2016, 05:08 PM
#13
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Joined APC: Jun 2010
Position: DOWNGRADE COMPLETE: Thanks Gary. Thanks SWAPA.
Posts: 6,613
Originally Posted by e6bpilot
Yep. About a third of that is factually correct.
09-22-2016, 09:00 PM
#17
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Joined APC: Oct 2006
Posts: 2,845
Roughly 8400 pilots. A new hire would be around 6200 on the list in 10 years if there was no growth just due to retirements. It won't be as bad as that due to early outs, attrition from people lateraling to other carriers, etc. But still a longer upgrade compared to other legacy carriers.
10-13-2016, 10:28 PM
#19
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Joined APC: May 2006
Posts: 2,889
They said that at FDX too. Reality is about 8/10 retirees appear to go at last possible date. We now have a "bonus" for guys who tip their hand 12 months out in Dec for the following year, so we might get a few more takers, but many guys find it hard to walk from a 300k or better job to start eating into their savings. Instead, they hang on, burn through their sick bank, and min run their last year or two...but they are still hanging on. This is FDX...SWA may be different--but having someone say "I'm out of here at 63" verses filling out the paperwork are two very different things. If I had a buck for everyone who said they'd leave FDX early I could have retired already. Most are still there.
10-14-2016, 06:42 AM
#20
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Joined APC: Dec 2009
Position: Narrow/Left Wide/Right
Posts: 3,655
Most pilots underestimate the psychological impact of actually retiring as well until they are at the precipice. Quite a few pilots who are even in their early 60s still see themselves as in early 40s with stories about flying the f105 and a4 still fresh in their minds.
When we're 40 there are quite a few stressors as kids are busy, parents get older, spouses have demands all from the bottom half of the seniority list, which make retirement a desirable goal. But by 63 most of that has since rectified itself as kids are established, parents passed, etc. Now at the top of seniority there is less stress than ever other than some medical issues perhaps.
Lastly it can be hard to transition from saver to spender in retirement savings. That's why many will pass with several million in the bank as no one really knows when the end is near and you should be enjoying your time and money vice working and saving.
When we're 40 there are quite a few stressors as kids are busy, parents get older, spouses have demands all from the bottom half of the seniority list, which make retirement a desirable goal. But by 63 most of that has since rectified itself as kids are established, parents passed, etc. Now at the top of seniority there is less stress than ever other than some medical issues perhaps.
Lastly it can be hard to transition from saver to spender in retirement savings. That's why many will pass with several million in the bank as no one really knows when the end is near and you should be enjoying your time and money vice working and saving.
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