What's your long term career strategy?

[pilotyip]

Exactly!

I didn't answer your question because I find it to be absurd to pick an income bracket to call "middle class." For one thing, a certain income level here in suburban Atlanta will yield a different quality of life than it will in suburban Detroit, and a much different quality of life than places like NY, SoCal, Coastal Florida, Boston, etc... Income numbers don't address the issue. Actual quality of life does. The fact is, to make a large six-figure income as a Doctor, Lawyer, etc..., you have to work in one of the big cities where such an income doesn't go as far as it does where I live. Doctors that work in suburban and rural areas make much less. So why try to pin it down based on an income strata? Sorry, doesn't make sense. That's why I gave you an answer that includes things that are universal: healthcare, cars, home ownership, etc... These are things that every person in the "middle class" should be able to afford.

and most pilot can make close to 100K after 10 years in this business. Something I have never made, yet I own a house, 4 cars, an airplane, have a good retirement, living the good life. Am I middle class?

 

[Lear70]

I would say middle class is defined by income in terms of spending power.

Whatever translates to after-tax income enough to buy your average 3 bedroom, 2 bath house in a safe neighborhood, have 2 cars (one for you, one for the spouse), be able to afford 2 kids and save for college AND retirement, and still have enough disposable income left over to take a vacation once a year with the family (plus pay student loans if you have them).

That's more than likely somewhere between $100k and $120k a year pre-tax.

Not going to make that unless you're either a VERY senior Legacy F/O or a CA at a LCC or Legacy (or Netjets or a cush corporate gig).

 

[PCL_128]

and most pilot can make close to 100K after 10 years in this business. Something I have never made, yet I own a house, 4 cars, an airplane, have a good retirement, living the good life. Am I middle class?

I've been in this business for about 7 years now, and the most I've made was $65k last year as an RJ Captain. I would have made about $72k this year if I'd stayed. Now, I'm looking at not breaking the six-figure barrier for about another 4-6 years with our current contract at AAI and the lengthening upgrade times. That will put me at about 12 years to get to that level, and that's assuming that I don't get furloughed or the airline doesn't go tits up or get bought. And by then the purchasing power of that $100k will be even less than it is now. You claim that you're living the good life, but I imagine that your definition and mine are quite different. How old is your house? How 'bout your cars? Do you have bills to send the kids to school/college? Do you take yearly vacations? Etc.... Simply getting by, and actually living a decent QOL are two different things. I don't expect to own two Rolls Royces and a 7,000 sq ft house, but I do expect to be able to buy a new car every few years, have a nice house big enough for a family, and so on. As it stands right now, it's hard enough to even support just myself on what I'm making.

 

[Occam's Razor]

Long term?

1. Enjoy it. I'm responsible for my happiness and my career satisfaction.
2. Leave it better'n I found it.
3. Try to the be the kind of captain that even the F/O's I fly with are sad to see retire.
4. Be known to my neighbors and friends as "that nice guy", and not "that pilot".

 

[C-150ETOPS]

If my memory is correct, pilotyip said he applied to American Eagle somewhere in the late/mid 1990's.

"consider the source" when someone tells you how far 100K goes in a major metro area.

 

[pilotyip]

another thread

If my memory is correct, pilotyip said he applied to American Eagle somewhere in the late/mid 1990's.

"consider the source" when someone tells you how far 100K goes in a major metro area.

1996, about to unemployed, I appled everywhere. However at 10,000+ hours 8500 MEL, 6000 turbin PIC I was not qualifed for AE in 1996 becasue I did not have 500 hrs in the last year. I only had 375 in a KA-200. BTW isn't Detroit a major metro area?, 100K does just fine. New Hire F/O's are buying new homes on USA Jet starting pay.

 

[instructordude]

1996, about to unemployed, I appled everywhere. However at 10,000+ hours 8500 MEL, 6000 turbin PIC I was not qualifed for AE in 1996 becasue I did not have 500 hrs in the last year. I only had 375 in a KA-200. BTW isn't Detroit a major metro area?, 100K does just fine. New Hire F/O's are buying new homes on USA Jet starting pay.

A person has to learn how to budget their money well. It's not that hard.

 

[Jetjockey]

A person has to learn how to budget their money well. It's not that hard.

Especially when they still live in their parent's basement.

 

[trijetter]

My Career is Lost

My new plan of attack is to take a year off on Short Term Disability and then follow it up with years of Long Term Disability. 66 2/3% pay and after a year on short term get a day job to pick up the slack.

 

[get2flyin]

My plan is to get furloughed from my job with a few years of seniority. Then I'll just hang out for 10 years or so doing odd jobs, what ever it takes to get by. Then when my company goes down the toilet and "merges" with another company, I'll throw my DOH around and get recalled into the sweet Captains position I'm entitled to. Hello easy street! I can't wait...it's gonna be awesome! :nuts:

 

[pilotyip]

Amen

A person has to learn how to budget their money well. It's not that hard.

Always live beneath your means, and take 1/2 of every pay raise and direct deposit it some place.

 

[Diesel-9]

Keep my first wife.

 

[instructordude]

Always live beneath your means, and take 1/2 of every pay raise and direct deposit it some place.

Good advice and I'll take it. I think it's fun save at least 20% of my paycheck and watch the compounding interest.

Any other advice?

 

[Lear70]

Keep my first wife.

No doubt...

 

[curtis46]

Keep my first wife.

Lonely or miserable,decision decision ...