Those are old rates. Here are more accurate rates:
To make it easy, here is a "best case" (depending on profitibility) if you were to start on 9/1/02. Most folks average 100 trips per month. You can fly much more (120 or more) if you want no life and live in domicile.
1st Year: 35.40/ trip.
2nd Year: 64.27/ trip
3rd Year: 81.17/ trip
4th Year: 93.63/ trip
5th Year: 104.25/trip or:
5th Year: 160.39/trip if you upgrade this year
Also, if hired on that date you will receive 4032 stock options. They will vest 3 months after your hire date (on 12/1/02 for this hypothetical). What that means is if the stock price on 12/1/02 is $15.00 and stays $15.00 they are worthless. But if they go to $25 say in a year or two, then they will be worth $40,320. ($10 X 4032). If the stock makes it to $35 in a few years, then the options will be worth $80, 640 and so on. You may cash them in anytime you want (so long as they have value!) But you have only 8 years to exercise your options.
DeepSpeed...you seem disappointed by these pay rates. Are you used to seeing rates that pay more than $6-10K/mo. for FOs? Over $16K/mo for a 5-yr CA? In addition to these hourly rates, SWA pilots get stock options with the company. I would say that SWA's pay rates are comperable with all but the largest (Delta, United, NWA, AA) of the US carriers. However, it should be noted that while SWA may not pay what Delta, UAL, et.al. pay, they are not suffering the major financial difficulties that the larger carriers are. SWA, JetBlue, AirTran, UPS, and FedEx seem to be the ones that are doing the best financially.
Last edited by ernest t bass; 30th June 2002 at 21:25.