Silver Airways now offering newhires $12,000 signing bonus - the desperation shows

[BuckMurdock1]

I love it!! As recently as like 5 yrs ago, this place (under the name Gulfstream) was CHARGING hopeful aspiring airline pilots as much as $30K to go through their 'F/O program'...which was just training them and having them fly a few hundred hours on line (and presumably parlaying that experience into an actual paying job somewhere). You didn't even get a type-rating. Yes- it was nuts. And those greedy pr!cks were laughing all the way to the bank..and STILL the SCABS running the place somehow managed to bankrupt it in the process. How the f*ck do you go bankrupt when ? of your labor force is PAYING YOU to work there, btw..?

Look at things now...!!!! I love it; how the pendulum can swing the other direction so fast. Silver/Gulfstream MGMT; you've made your bed over decades of taking advantage of hope/dreams of aspiring pilots. Now sleep in it!

 

[jynxyjericho]

Those crooks will be working somewhere else soon, you watch.

 

[surplus1]

I think I read somewhere that their 1st yr pay is $16K. Add $6K/yr to that and it brings it up to 22K/yr; lower than most regionals. No one should accept that. Given you can only fly 1000 hrs/yr max (and never do) that's $22/hr or less. Since duty time is at least double flight time (conservatively), it's about $10/hr. You can pretty much beat that flipping burgers at McD.

 

[Flying Ninja]

I think I read somewhere that their 1st yr pay is $16K. Add $6K/yr to that and it brings it up to 22K/yr;

You can't add $6k. It's a signing BONUS. That gets an automatic 40% cut. Thus, you're adding $3,600...provided there are no state/local governments that want a piece of that action.

Either way, these sign on bonuses are a joke.

 

[G-force]

FUNDS to hold out???????????

Silver Airways now offering newhires $12,000 signing bonus - the desperation shows

I seriously doubt that the funds for this will hold out too much longer!!!!!!!!!!! :angryfire:angryfire

 

[Secret Squirrel]

You can't add $6k. It's a signing BONUS. That gets an automatic 40% cut. Thus, you're adding $3,600...provided there are no state/local governments that want a piece of that action.

Either way, these sign on bonuses are a joke.

If you only make $22,000 you will get it back when you file your taxes.

 

[Flying Ninja]

If you only make $22,000 you will get it back when you file your taxes.

Keep telling yourself that. Maybe it'll come true.

 

[flyingitalian]

$22,000 - $5,450 (standard deduction) - $3,500 (personal exemption) = $13,050 taxable income.
$13,050 - $8,025 = $5,025 (taxable at 15%)
$5,025 * .15 = $753.75

Federal Taxes = $753.75 + 802.50
Taxes = $1,556.25.

22,000 / 1556.25 = roughly 14% effective tax rate.

This is without itemization. Not big numbers, but facts.

 

[flyingitalian]

While the bonus will be taxed at the higher rate, estimating taxes for the year you could increase your dependents on your w-4 form so the company would take the correct amount of tax out during the year so you don't end up giving uncle sam an interest free loan.

 

[977flyer]

$22,000 - $5,450 (standard deduction) - $3,500 (personal exemption) = $13,050 taxable income.
$13,050 - $8,025 = $5,025 (taxable at 15%)
$5,025 * .15 = $753.75

Federal Taxes = $753.75 + 802.50
Taxes = $1,556.25.

22,000 / 1556.25 = roughly 14% effective tax rate.

This is without itemization. Not big numbers, but facts.

You forgot about the EIC (earned income credit) which anyone making 22 grand would most definitely be able to claim. Through a kid in the mix and claim even more.