If you are senior enough to hold the 7 on, 7 off, schedule at EJA, youSheGaveMeClap said:But here's the million dollar question? How are you guys at EJA getting 62 days of vacation per year? That's excellent!!
GVFlyer said:The answer is in selecting the right corporation. There are many Fortune 500 companies operating Gulfstreams ...
We don't have a pilot who made less than 200k last year.
That means there are several things in your compensation package that you won't find at a fractional:
3. The ability to defer income or contribute more than 10% in your 401k through an executive savings plan.
7. Family vacations in the corporate jet.
I don't want to quibble, but that would be 497 more companies than there are large fractionals. Of course the companies are selective in their hiring practices.EJA Capt said:-Not more than 500 I would guess. Still not good chances of getting on with one considering the number of flight departments in the US. (Of course getting on at the fracs isn't easy now either)
Matter of fact we do, our hiring policy is to only hire well qualified Captains who have the skill set to be Chief Pilot of an operation. The Chairman feels that although we may loose them when they leave to run their own department, that is the caliber of pilot he wants in the flight department. And no we are not a small corporation, revenues last year were over 22 billion. 3M by comparison was at 16 billion.-You guys seem to be compensated well. But, I'm sure you don't start newhires at 200K do you?
-EJA contributes 50/50 up to 20% to 401K
Alright, I'll dignify this remark with a response. All companies run this benefit differently. I can schedule my family members on any trip that I am on where their are open seats. The return seats are then guaranteed. If there is a deadhead return from destination and the aircraft is not scheduled we may delay our return to home station. To meet IRS requirements their is appropriate reporting and a company plus-up. In my last company we had the similar dependent travel privileges except we couldn't spend an extra few days at destination prior to a dead head return.-You mean they just loan you a GV for the week???????!!!!!
Now that's a perk! (But who pays for gas?)
Well I have a news flash for you, NO Company made $22 Billion profit last year....And no we are not a small corporation, earnings last year were over 22 billion. 3M by comparison was at 14.4 billion
In the case of dead-heading on empty aircraft, EJA has the same policy for its' employees.GVFlyer said:I don't want to quibble, but that would be 497 more companies than there are fractionals.
Not exactly true. There are 3 "major" players and dozens of other fractionals. Furthermore, the major fractionals are not fighting for slots on 1 or 2 aircraft. EJI has 45 Gulfstreams of there own.
The federal limit is 10% or $11,000, whichever is greater, that may be contributed to a 401k. So do the math. The maximum salary that you could earn and contribute 20% to your 401k would be 55,000. Thus the maximum value of this benefit is 5500 dollars.
Actually, I have done the math. Although I did mis-speak, our limit is 15% not 20%. The 2002 limit of $11,000 is ONLY the employee contributuion, not the employer's contribution.
If I may:
"The Executive Jet Aviation, Inc. 401(k) Retirement Plan ...The Employer will make matching contributions in an amount equal to 15 %."
"The IRS has also set limits on the total amount that may be contributed to your 401(k) account from all sources combined, including any employer matching or profit-sharing contribution, and any employee after-tax contributions. For 2002, the maximum is the lesser of 100% of compensation or $40,000. The $40,000 limit will increase in $1,000 increments based on cost of living adjustments."
"you may become eligible to make salary deferral, pre-tax, catch-up contributions beginning January 1st of the year you turn age 50. These contributions are in addition to your regular deferral contributions. Catch-up contributions start at $1,000 for 2002, and increase by $1,000 a year until they reach $5,000 in 2006."
If there is a deadhead return from destination and the aircraft is not scheduled we may delay our return to home station. [/B]
That kind of research over irrelevent issues may be the product of too much toilet training as a child, but you're right. I mispoke; I should have said "revenues", which were in excess of what I stated, not "earnings".Falcon Capt said:Ok, Ok... what is going on... something doesn't add up here....
You say .....
Well I have a news flash for you, NO Company made $22 Billion profit last year....
Food for thought
Originally posted by EJA Capt
EJI has 45 Gulfstreams of there own.
What did you make in math? No matter how you explain it, 50% of $11,000 remains $5500.Actually, I have done the math. Although I did mis-speak, our limit is 15% not 20%. The 2002 limit of $11,000 is ONLY the employee contributuion, not the employer's contribution.
What I was trying to suggest to you is that if we place our dependents on an occupied leg and the return from that destination is deadhead, we may remain at that destination with our loved ones for a few days before deadheading home. EJA does not allow family members on occupied customer legs, so no, EJA does not have the same policy for it's employees.In the case of dead-heading on empty aircraft, EJA has the same policy for its' employees.