Compass updates
11-30-2015, 09:35 PM
#8642
Gets Weekends Off
Joined APC: Nov 2012
Position: 737 FO
Posts: 880
That is so people can decide whether they want to bet they will make more than the 10k with the new rate, or take the guaranteed money. It is also a bet as to whether the person will be at another airline within 12 months or not. If someone feels they will leave Compass in under 12 months, they might take the higher pay vs the bonus which they would have to pay back. Even if the new pay is less than 10k more over the course of a year, should that person leave, they are not indebted to the company.
Getting rid of the bonus and getting pay rates is a huge win. The company cannot take this now contractual item away.
12-01-2015, 05:45 AM
#8643
Gets Weekends Off
Joined APC: Nov 2015
Posts: 227
The new pay is basically the $10,000 bonus translated into a pay rate. I think it's a no-brainer. The bonus is paid out over three installments I believe, so pay for the other 9 months sucks. On top of that if you credit 85+ a month, like everybody is, you come out ahead.
Getting rid of the bonus and getting pay rates is a huge win. The company cannot take this now contractual item away.
Getting rid of the bonus and getting pay rates is a huge win. The company cannot take this now contractual item away.
12-01-2015, 05:57 AM
#8644
Gets Weekends Off
Joined APC: Feb 2007
Position: FO
Posts: 3,044
You would get a lot of it back when you filed your tax return.
12-01-2015, 07:05 AM
#8646
Gets Weekends Off
Joined APC: Nov 2014
Posts: 173
For the new hires this is awesome. For those that have been here a couple/few months they are better off just taking the $10K bonus.
I ran the numbers and even if you had 95 hours of credit a month for 8 months straight you'd still make less with the new $35.81/($36.25 in Jan?) pay. And as we become fully staffed those critical trips won't be as common.
So I'm glad they did this, it's awesome to see pay going up.
I ran the numbers and even if you had 95 hours of credit a month for 8 months straight you'd still make less with the new $35.81/($36.25 in Jan?) pay. And as we become fully staffed those critical trips won't be as common.
So I'm glad they did this, it's awesome to see pay going up.
12-01-2015, 07:11 AM
#8647
Line Holder
Joined APC: Sep 2014
Posts: 68
For the new hires this is awesome. For those that have been here a couple/few months they are better off just taking the $10K bonus.
I ran the numbers and even if you had 95 hours of credit a month for 8 months straight you'd still make less with the new $35.81/($36.25 in Jan?) pay. And as we become fully staffed those critical trips won't be as common.
So I'm glad they did this, it's awesome to see pay going up.
I ran the numbers and even if you had 95 hours of credit a month for 8 months straight you'd still make less with the new $35.81/($36.25 in Jan?) pay. And as we become fully staffed those critical trips won't be as common.
So I'm glad they did this, it's awesome to see pay going up.
12-01-2015, 07:43 AM
#8648
Gets Weekends Off
Joined APC: Jan 2014
Posts: 244
For the new hires this is awesome. For those that have been here a couple/few months they are better off just taking the $10K bonus.
I ran the numbers and even if you had 95 hours of credit a month for 8 months straight you'd still make less with the new $35.81/($36.25 in Jan?) pay. And as we become fully staffed those critical trips won't be as common.
So I'm glad they did this, it's awesome to see pay going up.
I ran the numbers and even if you had 95 hours of credit a month for 8 months straight you'd still make less with the new $35.81/($36.25 in Jan?) pay. And as we become fully staffed those critical trips won't be as common.
So I'm glad they did this, it's awesome to see pay going up.
Last edited by pilotwithnoname; 12-01-2015 at 08:02 AM.
12-01-2015, 08:13 AM
#8649
Gets Weekends Off
Joined APC: Oct 2005
Position: 737 Right
Posts: 955
Personally, if I knew I was going to receive a bonus that would be withheld at an artificially high rate, I would change my withholding status (at least temporarily) to divert more of that money to my checking account in lieu of the US Treasury.
(*Personal opinion, NOT tax advice.*)
In any case, a good improvement for Compass pilots.
12-01-2015, 08:23 AM
#8650
Banned
Joined APC: Sep 2015
Posts: 519
This would only be true if you were already near the upper tax bracket limit, and the bonus pushed you over said limit. The tax brackets are based on total income, not monthly, and you only pay higher taxes in any given month if you hit that higher bracket, and would CONTINUE to pay the higher rate for the rest of the year.
To clarify, the bonus is taxed as ordinary income. However, a higher percentage of taxes may be withheld on the bonus check because the higher check amount indicates a higher percentage based on the IRS withholding tables. Any over/underpayment of taxes will be trued up when you file your return. Whether or not you receive a refund depends on a lot of things. (i.e. withholding status, other income, exemptions, deductions, etc.)
Personally, if I knew I was going to receive a bonus that would be withheld at an artificially high rate, I would change my withholding status (at least temporarily) to divert more of that money to my checking account in lieu of the US Treasury.
(*Personal opinion, NOT tax advice.*)
Personally, if I knew I was going to receive a bonus that would be withheld at an artificially high rate, I would change my withholding status (at least temporarily) to divert more of that money to my checking account in lieu of the US Treasury.
(*Personal opinion, NOT tax advice.*)
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