One would think that the problem with doing contract work in the Legacy is that there is alot of competition out there in the form of current or furloughed regional airline pilots (like yourself?). When a pilot is accustomed to being paid by the flight hour, and with FO's being paid so little (regardless of experience or flight time - it's about seniority), $300 a day would probably sound pretty good to a regional airline FO who would be eminently qualified in an EMB 145.
To your average contract corporate pilot, those wages are unacceptable. Your average contract pilot is out of pocket for recurrent, insurance, self employment tax, retirement, etc...
So the problem as I see it for "Legacy Pilots" is that there is a pool of pilots qualified and capable of doing the job, (type rated and current) who have been conditioned to work for low wages and will undercut the competition. Economics 101 - Supply and Demand.
Just as you are toying with the idea of entering the Corporate Contract flying world, others are contemplating the same thing. If someone DID offer you $1000 a day to fly the Legacy, how long do you think it would be before one of your out of work "brothers" offered to do it for $800 a day? Pretty soon you are down to $300 a day and before long someone is actually paying the owner to fly his jet. The regional airlines have already been through this cycle, and are still there.
To your average contract corporate pilot, those wages are unacceptable. Your average contract pilot is out of pocket for recurrent, insurance, self employment tax, retirement, etc...
So the problem as I see it for "Legacy Pilots" is that there is a pool of pilots qualified and capable of doing the job, (type rated and current) who have been conditioned to work for low wages and will undercut the competition. Economics 101 - Supply and Demand.
Just as you are toying with the idea of entering the Corporate Contract flying world, others are contemplating the same thing. If someone DID offer you $1000 a day to fly the Legacy, how long do you think it would be before one of your out of work "brothers" offered to do it for $800 a day? Pretty soon you are down to $300 a day and before long someone is actually paying the owner to fly his jet. The regional airlines have already been through this cycle, and are still there.