L2A
Good points and well made.
However, a direct entry FO into a "regional" carrier like RE is most likely at the very start of their career as a pilot. Their qualification, all be it expensive to achieve, is analogous/comparable to a college degree (BA/BSc). A starting salary of circa €28,000 would be very much at the upper end of what a college graduate could expect with a 1st class honours degree entering the work force in Ireland today (some legal, science or IT related roles may pay a little more for an exceptional graduate, but very few). Also, keep in mind that the average industrial and median salary figures are usually earned by people towards the middle of their career (circa 20 years in).
From the official stats at the start of 2013 (the CSO Quarterly National Household Survey) ... and keep in mind that this is Irish household income, not individual ...
- 33% of households have a gross income of less than €30,000
- 56% of households have a gross income of less than €50,000
- 62% of households have a gross income below the average (mean) household income of €56,500
- The top 30% of households have a gross income of more than €70,000 per annum
- The top 20% of households have a gross income of more than €80,000 per annum
- 14% of household have a gross income above €100,000 per annum
- 2% of households have gross incomes above €200,000 per annum
For individuals the figures reveal;
- The top 5% of individuals in the income distribution have an income of more than €78,000 per annum
- The top 1.5% of individuals in the income distribution have an income of more than €120,000 per annum
- The top 1% of individuals in the income distribution have an income of more than €140,000 per annum
Half way through their career, where would the average pilot's income sit?
I accept that the job is demanding. I also accept that the industry (globally) has probably pushed a little too far on hours/fatigue. That said, over their career a pilot has higher than average earning potential and in that light the initial cost of the training and the first few years of relatively lower pay should be viewed as a personal investment.
JAS