ELITT is very important to learn as a new guy. The reason being is you may be assigned a base out of training such as OAK. Well, let's say for argument sake that you live in HOU.
You are thinking at this point, I'd sure like to be based at home in HOU and not commute to OAK. However, being the junior guy you are, you may hold HOU very quickly, but not as a line holder, but rather as a reserve. ELITT doesn't work for reserve in the manner it does for a line holder.
At SWA we pay a 1st year pilot second year wages for extra fly, or daily open time. We also pay 1.5 X 1st year rate for junior assigned(JA) and 1.15 X 1st year rate for volunteer junior assigned(VJA). 2nd year rate is higher than both JA and VJA.
Here's the thing to do to make money. Choose a base away from OAK where you can hold a line immediatly, say PHX for instance. Now, in PHX you have a line so you can ELITT down to 65 trips(the min) for pay(1st year trips), then put everything on your board in giveaway. This does two things for you. It reduces the times you have to commute to PHX, you may not have to go to PHX at all. And, it allows you to pick up HOU trips on extra fly or daily open time(2nd year rate).
The difference in earnings is staggering. I do mentoring for newhires and have them earning $80,000.00 or more their 1st year, rather than $45,000.00 to $50,000.00
Yes, you may not be able to give away ALL your trips out of base and you may have to commute once or twice a month, but look at the difference in money.
Obviously I didn't start this program, but I've been able to help others(newhires) make their finances more managable. And at the same time gain a better quality of life.
I'm sure your newhire mentor will help you in the same way.