Executive Jetcaptain In The Usa
 

Could anyone out there kindly give me some info as follows:

1. What would be a good salary for an Executive Jet Capt to be based in California?

2. What percentage taxes could you expect to pay?

3. Any comparison on cost of living of California vs. Europe?

4. Any other useful tips?

5. If none of the above, where could I get a quick answer to these as I have just a few days to decide wwhether to accept an offer or not!

Thanks

As stated below, check your PM file.
 

As stated above, check your PM file.

1. $80,000.00

2. About 25%

3. I have lived in the UK and there is no comparison, California would be much cheaper given the same size house. Petrol is 1.50 per gallon, cable, phone and utilities about the same (and no TV tax).

4. That salary would assume full health benefits.

5. Climate doesen't get much better!

My 2 cents, good luck.

D L

Here are my answers to this. I am basing this on having grown up in California and still knowing a couple of corporate pilots there.

1 = The size of the jet will determine the pay. Are we talking small, medium, or large ? I.E. Citation II, Citation X, or Gulfstream IV. That can change the pay range by over $50,000. What city ? Is it a high cost of living city like the Los Angeles basin and San Francisco or is it Stockton, Bakersfield or somewhere else inland where the cost of living is lower ? This can change the pay by upwards of $20,000 for the same equipment. As to what is good pay that tends to be subjective. For you to buy a decent house in a middle class neighborhood in the expensive cities you would want no less than $120,000 per year for the inland cities you might be okay with as little as $90,000 per year. As an example I was in the running for a Citation III job in Stockton during the summer of 2002 and the offer was in the vicinity of $90,000 per year. I was offered a job as a Citation X First Officer in the same city for $60,000 per year. Somebody with time on type stole the Citation III job out from under me :ugh:

2. California State income taxes alone are around 7% plus Federal income taxes in the 31 to 36 % range. Granted with mortgage interest and other deductions that can be reduced but it does take a healthy bite out of the paycheck.

3. California has become extremely expensive. To buy an average home in San Jose will now be no less than $500,000. Long Beach is around the same, maybe you could find a deal for $400,000. That has become the single biggest expense. Otherwise I would agree that it is less expensive than London for normal daily items, especially petrol.

4. Check the Health Benefit package that they are offering. That can make a big difference in the U.S. Some plans have you paying as little as $50 per month plus co-pay per visit of around $10-15 or you can go as high as $400 per month with $25 co-pays. Dental/Optical coverage is necessary as well as medical.

5. Check out Yahoo's real estate section for average home prices for the city this job is in to get an idea what it will cost you to buy a place.

The right job in California can be really good as it is a wonderful place to live.


Typhoonpilot

Our Federal income tax is nowhere near that high. Here are the 2003 Fed income tax rates for a married couple. The figures are taxable income which is after your personal excemptions and deductions.

00% $0 - $7999
10% $8000 - $22,299
15% $22,300 - $64,749
25% $64,750 - $118,049
28% $118,050 - $185,549
33% $185,550 - $326,099
35% $326,100 and up

If you earn $100,000 you'd subtract your personal excemptions of about $6000 and you standard deduction (more if you itemize) of $9500 (married) and you're down to roughly $84,500.

The first $7999 of that is not taxed,
The amount from $8000 to 22,229 is taxed at 10%,
The amount from $22,230 to $64,749 is taxed at 15%, and
The amount above $64750 is taxed at 25%. That gives you a total income tax of $12,735 or 12.735% of your gross pay.

Social Security tax is 6.2% but it's capped at $87,000 so you'll pay no more than $5,394.

Medicare tax is 1.45% and is not capped. That would be $1450 on $100k gross.

Add that all up and your Federal tax is $19,579 or 19.579% of your $100k gross.

Owning a home would greatly increase your deductions as would your California state tax (it's deductable on the Federal return). You can also reduce your taxable income by contributing to a 401k (which many employers offer) by as much as $13,000 in 2004.

California is one of the more expensive places to live in the US.