Saturday, January 15, 2011

Questions Answered: How much did you earn last year?

Just curious, what is your current take-home pay AFTER taxes and union dues? And how many passengers are you flying in that aircraft?

Pay after taxes won't be useful as some states have state and federal taxes...some have federal only. I will include only federal taxes, since we all pay those. Last year I made $35,817.71 gross pay...over 10 months as I took the last two months off of work and received no pay (FMLA spent two amazing months with my daughter). Take out Union dues of $563.35 and Federal Taxes $4,067.21 (I take out at the SINGLE rate...never changed it...if I took out at the Married rate it would be less...will be less this year as I had a kid). Total money in my pocket before all other deductions $31, 187.71 or roughly $3118 per month. If I had worked a FULL 12 months I would have earned an estimated $42,980 based on the pervious 10 month earnings before taxes and Union Dues.

I am paid that rate to fly 50 passengers around.

Pilot pay is incredibly complex. Included in that above number is per diem, bonuses and overtime. Not included in deductions are items like insurance, extra insurance, 401K benefits and the like. Pilot pay per hour is a just a small piece of the overall pie. Airline A might pay pilots 10% more than Airline B, but Airline B might have health insurance 25% less than Airline A. Airline B might match 401K contributions to 7.5% of total pilot pay while Airline A might only match 5%. All adds up.  Overall I am very content with my pay and career. I am able to live a very nice life with my wife and child. My wife and I have traveled around the United States, Canada, Mexico, Japan and the Caribbean.

Next year I should clear $45,000 simply because I got a raise to year 4 pay.

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