Recruiter BS?

Derg said:
"…and a number of our hotels include free breakfast. So assuming a $30 value and at 190 days on the road per year, that's an extra $5,700 in your pocket!"
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Wardogg said:
Well I'm already passed 30s and probably still a year out from applying. Just looking to gather a much info as i can about those first couple of years are going to be like. Thanks for all the responses.
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Adjust your lifestyle and expect things to not go as planned. I started in my 30's and had to step away for a while when things got lean.
 
desertdog71 said:
Adjust your lifestyle and expect things to not go as planned.
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This. As I have stated before, started in my mid thirties, retired prior to 60 after going through the airline "hell" years. In the eight years since CA pay/hr has doubled what I was making on my last day. Profit sharing was unheard of back then.
 
Richman said:
Ummm, in a word, no.

When the company puts money in an "retirement" account, that's tax deferred income, but it's still income. Your money, your responsibility. Very easy to mess this up if you suck at investing or retire at the wrong time. This is called "defined compensation", because only the money that is put in is defined. It is in no way like insurance.

A "retirement plan", in the traditional sense, is a defined benefit plan. The defined part is back end, what the company pays you once you retire. It's up to the company to contribute enough to the plan to make the calculation work out on the back end (usually depended on your pay). In this case it is like insurance, because there is some actuarial hand waving done to make sure the fund is properly funded, but otherwise transparent to the recipient. This is actually deferred compensation.
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I get that. But the whole point of retirement money/benefit/savings is to provide you income for when you can no longer work at 65 as an airline pilot. One way to think of this money is basically it's like insurance that assumes you will be alive at 65 and continue paying you out for as long as you live after 65 and until you die (or until the retirement money dries up). I get that pension benefit plans have to be funded and that DC plans depend on the funds, how those funds perform, and how the economy is when you are about to retire.

If things go well, you don't tap into your 401k for early withdrawal. All the money sitting in that account (ideally) should be untouched until you retire and stop flying as an airline pilot. So I don't understand why I should include that in what I make in a year. This year, my retirement 401k contributions and match has zero relevance in my current buying power.

AAPalmTree said:
This is wrong. Also, “Make” is not just pay/income.
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Really? So if someone asks what you make, you will give your gross income and then add 401k for that year as well? Why? If you ask me what I made last year, I'll respond $140,575. That is the gross pay number on my ADP pay statement for Dec 30th. It does NOT include retirement 401k!

No wonder a certain un-named airline management tells us to look at our "fringe" benefits (like retirement) when they put out their lower hourly rates in comparison to competitors. :rolleyes:
 
Cherokee_Cruiser said:
I get that. But the whole point of retirement money/benefit/savings is to provide you income for when you can no longer work at 65 as an airline pilot. One way to think of this money is basically it's like insurance that assumes you will be alive at 65 and continue paying you out for as long as you live after 65 and until you die (or until the retirement money dries up). I get that pension benefit plans have to be funded and that DC plans depend on the funds, how those funds perform, and how the economy is when you are about to retire.

If things go well, you don't tap into your 401k for early withdrawal. All the money sitting in that account (ideally) should be untouched until you retire and stop flying as an airline pilot. So I don't understand why I should include that in what I make in a year. This year, my retirement 401k contributions and match has zero relevance in my current buying power.




Really? So if someone asks what you make, you will give your gross income and then add 401k for that year as well? Why? If you ask me what I made last year, I'll respond $140,575. That is the gross pay number on my ADP pay statement for Dec 30th. It does NOT include retirement 401k!

No wonder a certain un-named airline management tells us to look at our "fringe" benefits (like retirement) when they put out their lower hourly rates in comparison to competitors. :rolleyes:
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I honestly have never had anyone ask what I make. You’re running with the wrong crowd if people ask you that question.
 
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