Originally Posted by
PPSS
Thank you very much for the replies guys. Its great help. Not sure if anyone would know this, but I heard with the advertised bonuses from different companies the bonus gets taxes at 40%!! with GoJet giving 60K bonus it would in reality only equate to 36K...that changes things drastically... Can anyone confirm this? Also I heard there are two different taxex one needs to pay the federal and state tax!! Just wondering with all this the advertised 100k for first year for FO in essence comes down to roughly 55K!
Good luck getting $100k in your first year! Base pay is about $35k, maybe get another $3-$4k in per diems and good luck breaking guarantee on reserve at GoJet. The bonuses are not $85k anymore, they are down to about $51k. It's $10k at the end of IOE, $10k 6 months after that and then $6k at the end of year 1, $15k end of year 2 and a final $10k at the end of year 3. If you leave you're on the hook for the bonus you just got.
So with that all taken into account you'll get about $55k-$60k in year 1 before tax. When they said $100k that was when the bonus was $85k total and you were getting $60k in the first year, now it's down to $26k in the first year. Also they include things like per diems, hotels, 401k contributions and health insurance in that $100k. Tax rates are a lot lower and I would estimate based on the tax I had to pay last financial year in the US that you would take home about $40-$50k and then MAYBE get some back when you do your tax return in Jan/Feb.
For anyone interested the bonus at ExpressJet, it is now $22.5k - $10k in the first week of training and then $12.5k at the completion of IOE. If you leave in the first 12 months you have to pay 100% back and if you leave in months 13-24 you have to pay back 50%.
CommutAir is $22k bonus, paid I believe in the same way as ExpressJet but I'm not sure on the commitment/pay back rules.
All of these figures are accurate as of this week.