World's Highest Paying Airlines

I don't WANT to be a "killjoy" but I'm a gonna:

Comparing rates is apples and oranges.

Like if you figured what the average AA pilot will retire with, somehow factor that into the hourly rates, you'd probably see comparable rates that would far surpass SWA because I think all they receive is a 401k match.

You really have to look at the contract in it's entirety and that takes a lot more research than a cut and paste of numerical data and a 'd00d, lookit dat!'

It'll be different in two years, way different in 5, even more different in 10, vastly different than today in 15...

Hopefully it'll be better.
 
IWExcelsiorE said:
188 an hour is paltry?

I'd never imagine someone that I know making HALF of that....
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But it's not $188/hr

Compared to a normal 9-5 job it's at least half, or $94/hr. $94/hr (comparatively) really isn't that much for what someone at the top of the payscale at a major has sacrificed and gone thru to get there IMO. Furloughs, PC's, medicals, leave and you go back to year 1 @ $30k/yr, the list goes on forever.
 
According to an Airline pilot I know down in Brazil, both GOL and TAM FOs make over 100k in their 2nd year. I also heard that British Airways and Lufthansa pay is similar.

And another thing: My fiancee's aunt is an 18 year flight attendent with American and she has told me multiple times that AA pilots receive 1 million dollars-cue the dr evil voice- upon retirement.

Is that still in the contract or was it written out as part of their cost cutting measures?? That is one heck of a bonus to retire with!
 
$188 an hr is roughly $188,000 per year. Still probably more than anyone he knows makes, if that what he was saying.

But just as a comparison, in 2012 a UPS second yr FO will bring in $148.80, roughly $149,000. A 15th yr Captain will bring home $261.67 an hr. Thats why I say the days of the 300k airline pilot may not quite be over. And hopefully the legacies can bring the pay up to a level near or better UPS and FedEx. Still I think it will be hard to do in this new day and age of passenger airlines operating as LCCs.
 
embraer07 said:
According to an Airline pilot I know down in Brazil, both GOL and TAM FOs make over 100k in their 2nd year. I also heard that British Airways and Lufthansa pay is similar.

And another thing: My fiancee's aunt is an 18 year flight attendent with American and she has told me multiple times that AA pilots receive 1 million dollars-cue the dr evil voice- upon retirement.

Is that still in the contract or was it written out as part of their cost cutting measures?? That is one heck of a bonus to retire with!
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One of my best friends dad's is a Delta captain, and he once told me they received a 1 million dollar check the day they walked out the door (turn age 60). On top of the 1 million dollar check, they also received something like 50 or 60% of their final pay. Can you imagine being a 777 cap, and at the time making upwards to $300,000, and receiving even 50% of that the rest of your life! Sounds like a pretty good deal to me. It's too bad they had to take so many concessions and what not since post 9/11.
 
mattp1803 said:
One of my best friends dad's is a Delta captain, and he once told me they received a 1 million dollar check the day they walked out the door (turn age 60). On top of the 1 million dollar check, they also received something like 50 or 60% of their final pay. Can you imagine being a 777 cap, and at the time making upwards to $300,000, and receiving even 50% of that the rest of your life! Sounds like a pretty good deal to me. It's too bad they had to take so many concessions and what not since post 9/11.
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Even with the current pay scales every airline pilot should be able to retire a multimillionaire. Anybody can save just 10% of their income every year and invest!
 
777forever said:
Even with the current pay scales every airline pilot should be able to retire a multimillionaire. Anybody can save just 10% of their income every year and invest!
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Good point. That's why I'm glad I have a Roth IRA right now. As soon as I get a job flying, I'm going to put at least 10-20% a month into it.
 
mattp1803 said:
Good point. That's why I'm glad I have a Roth IRA right now. As soon as I get a job flying, I'm going to put at least 10-20% a month into it.
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I think you are a bit misled.

Let's go back to your example - because I have no idea what the pensions were like at Delta pre-9/11. You said "they also received something like 50 or 60% of their final pay. Can you imagine being a 777 cap, and at the time making upwards to $300,000, and receiving even 50% of that the rest of your life!"

OK, so we'll assume $150,000 per year.

To save the same amount of money that would coincide with making $150k (in todays dollars, my guess was that the pensions were indexed for inflation).

Using Fidelity's quick retirement planner, I figured out what one would need to save per month to reach the goal of retiring on a self-funded "pension" of $150k in todays dollars. This assumes retirement at 60 (what it currently is), and an average rate of return.

Savings that need to be saved per month to achieve the equivalent of $150k at retirement:
Age 20: $3,600/month or $43,200/yr
Age 25: $4,200/month or $50,400/yr
Age 30: $5,400/month or $64,800/yr

As you can see, those are some pretty hefty savings amounts. That just goes to show you how much those pensions were really worth and how hard they are to replace by using a self-financed retirement. You won't get there by putting $4k into a ROTH IRA...


 
wheelsup said:
I think you are a bit misled.

Let's go back to your example - because I have no idea what the pensions were like at Delta pre-9/11. You said "they also received something like 50 or 60% of their final pay. Can you imagine being a 777 cap, and at the time making upwards to $300,000, and receiving even 50% of that the rest of your life!"

OK, so we'll assume $150,000 per year.

To save the same amount of money that would coincide with making $150k (in todays dollars, my guess was that the pensions were indexed for inflation).

Using Fidelity's quick retirement planner, I figured out what one would need to save per month to reach the goal of retiring on a self-funded "pension" of $150k in todays dollars. This assumes retirement at 60 (what it currently is), and an average rate of return.

Savings that need to be saved per month to achieve the equivalent of $150k at retirement:
Age 20: $3,600/month or $43,200/yr
Age 25: $4,200/month or $50,400/yr
Age 30: $5,400/month or $64,800/yr

As you can see, those are some pretty hefty savings amounts. That just goes to show you how much those pensions were really worth and how hard they are to replace by using a self-financed retirement. You won't get there by putting $4k into a ROTH IRA...
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I never once said that a Roth IRA would allow me to retire and live on $150,000 a year. And yes pre-9/11 a very senior retired Delta captain would receive that kind of money from his company a year. However, I do currently have a Roth and I expect to at least have one million in it when I'm 60. It would be great to have more than that. I will invest my money in other things though as well. That is why it is so important not to put all your eggs in one basket. I'm planning on investing in real estate on the side for additional income as well.

My neighbor is a Delta 76 captain, and pre 9/11 he had invested a lot of his money into Delta stock. Not a good idea. As you can see he has lost thousands and thousands of dollars by looking at the current stock value of Delta. This is exactly why I plan to diversify my money.
 
777forever said:
$188 an hr is roughly $188,000 per year.
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Incorrect.

Good point. That's why I'm glad I have a Roth IRA right now. As soon as I get a job flying, I'm going to put at least 10-20% a month into it.
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Saying you're GOING to do something and actually being able and willing are two distinctly difference phenomena.
 
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