Jetblue Counts Profit Sharing TWICE in Pay Review

[Splert]

Can you tell me what 13 minus 10 is?

My mortgage rate is 3.25%.

Is 6.25% ONLY 3% HIGHER?

 

[Splert]

I just finally had time to read this post in full. What ********************ing Bull$hit. Since you posted after me, I will quote for you from my previous post (before your post):

"Is 13% 30% higher than 10%? Yes. But the 3% number is clearly in reference to a 3% salary match...."

There is no doubt that on a PERCENTAGE COMPARISON basis, we are 30% (or more) behind on retirement.

My original post regarding 3% vs. 30% was in response to this (note the underlined):

"Bluejet says you are only 3% behind your peers because you get a 5% match plus 5% profit sharing for a total of 10%. (For those of you that are math challenged, that makes us 30% short of our peers... not 3%)."

The problem is that the 3% number and the 30% number are NOT interchangable. You cannot simply say that the 3% number is incorrect, and should be changed to 30%. They are in entirely different contexts and used in two DIFFERENT math formulas.

The 3% figure is used in a unit comparison, where 1 unit=1% of salary matching. This is THE standard unit of evaluating 401k retirement matching. Jetblue deposits 10% of your salary into your 401k. That is 10 units of 1% salary match. Industry average is 13%, or 13 units of 1% salary match.

13-10= a deficit of 3 units of 1% salary matching. (note the addition/subtraction math operation and the context of unit comparison)

The other method is to compare our retirement match on a percentage basis. This method has you compare 10% to 13% as the percentage of increase required to raise our retirememt contribution to standard.

This formula is a multiplication/division formula.

10%*1.3=13% which is an increase of 30%
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For the stupid knuckle dragging Apes on here, I have NO problem with either way of representing the numbers. Both are 100% mathematically valid.

However, I have a problem with trying to interchange the numbers by saying 3% is wrong, and should simply be replaced by 30%.

They are to different mathematical formulas, using two different orders of operation and are used in two different contexts.

Period.

We are 3% behind on a unit basis, and 30% behind on a percentage basis.

Period.

We are 3 basis points behind PLUS jetblue needs to restore our former profit sharing plan.

If not then we are closer to 8 to 10 basis point behind in retirement and PS.

Since 2007 when PS was used to fund retirement Jetblue would have at least provided 3-4% in additional PS on top of what should have been a 13% QRP.

This is where the double counting begins.

Jetblue says that PS is retirement.

Okay then we need a new PS plan.

Jetblue then says you alrealdy have a PS plan and it is guaranteed.

But it is Retirement?

Yes!

Then we need a new PS plan.

You already have one and it is guaranteed.

And so on and so on and so on.

5 years later this pilot group is still lost in the woods and likes it that way.

 

[Smarta$$]

We are 3 basis points behind PLUS jetblue needs to restore our former profit sharing plan.

If not then we are closer to 8 to 10 basis point behind in retirement and PS.

Since 2007 when PS was used to fund retirement Jetblue would have at least provided 3-4% in additional PS on top of what should have been a 13% QRP.

This is where the double counting begins.

Jetblue says that PS is retirement.

Okay then we need a new PS plan.

Jetblue then says you alrealdy have a PS plan and it is guaranteed.

But it is Retirement?

Yes!

Then we need a new PS plan.

You already have one and it is guaranteed.

And so on and so on and so on.

5 years later this pilot group is still lost in the woods and likes it that way.

Obviously I agree. However, the original post made it seem as though this was part of some NEW pay review process. Where is it?

 

[Smarta$$]

My mortgage rate is 3.25%.

Is 6.25% ONLY 3% HIGHER?

Well yes. The interest RATE is exactly 3% higher. But it is a 90% increase in the amount of interest you will pay.

 

[J32driver]

Obviously I agree. However, the original post made it seem as though this was part of some NEW pay review process. Where is it?

"The Rob" has indicated that the current, agreed upon process belongs to Mikey B and isn't going to be honored "on a go forward basis" because Mikey B isn't here anymore. Sounds like a good way to treat your pilot group, doesn't it?

 

[Smarta$$]

"The Rob" has indicated that the current, agreed upon process belongs to Mikey B and isn't going to be honored "on a go forward basis" because Mikey B isn't here anymore. Sounds like a good way to treat your pilot group, doesn't it?

Is this a serious post? How can you read my post, and think this actually answers my question?

 

[J32driver]

Is this a serious post? How can you read my post, and think this actually answers my question?

Your "New" pay review process is inbound. I gave you the reason why. Are you seriously unaware of this?

 

[A350]

Is it any wonder the JetBlue pilots couldn't agree on the *(#$%ing color of the sky, let alone a math problem or which road to go down.

Sometimes it is a little embarrassing.

Here's a little advice.

Enjoy your life and family.
Come to work rested, prepared, and on your game.
Keep the customers happy....(we all have our way of doing it, but it starts with the best flight you can provide) They will keep coming back and allow you to continue to draw your pay and therefore allow you to enjoy your life and family.
If you can't come to work and do it properly, without an attitude, don't come to work and ruin it for the rest of us. Stay home, use some vacation or PTO, or quit and find something to do that makes you happy.

Rant over.

A350

 

[Hair-on-Fire]

If you can't come to work and do it properly, without an attitude, don't come to work and ruin it for the rest of us. Stay home, use some vacation or PTO, or quit and find something to do that makes you happy.

A350

Amen.....

 

[Splert]

Don't bring your Jetblue religion or MWW talking points to the flight deck.

It works both ways ladies.

Don't spread your false beliefs about Values and I will not have to point out the reality that you are just King Sh!it of Turd Island. I'm sure that works for you, so, good for you,