Crockrocket95

Quartley they dump some millions in a bucket that gets paid out as a percentage at the end of the year in Feb or something. Its divided by 70K employees... There is a formula...

ElonMusk

I’ll give you the cynical view. The financial terrorists of our company decide how much they want to pay out and manipulate the books to achieve said number. That number is converted to a percentage and then it’s awarded to the worker here as the percentage multiplied by the previous years earnings for such said employee.

It’s very convoluted and not easily seen how they come up with the numbers. For example in Q1 we showed a loss on the books BUT the FT(financial terrorists) placed a small sum into the kitty for the workers. Why? Because they were pre paying for a full year profit that was expected. Now that we will get kicked in the nuts on Q4 earnings it will be interesting to see how it plays out.

Year 5 and I only got PS twice. Year 1 not eligible as back then you had to be here the entire calendar year. Miss it by a week and too bad so sad. Year 2 got like 11 percent but based on year 2 earnings was not much. Year 3 ZERO. Year 4 got like 4 percent. Year 5 not expecting anything….

bleedair

I’m assuming year 2 & 3 are 2020 & 2021?

I spoke with a recent retiree and he said he was paid $1M+ in PS. I see your point, though, it would be nice to understand the methodology. Does SWAPA know the math?

ElonMusk

1M in PS? 35 year career?? Maybe but doubtful because if we averaged 7 percent PS over the years and average 200K a year the math shows 1M but I doubt anyone can say they averaged 200K a year over their career at WN. What did a WN pilot make in 1987 here….45K as an FO maybe?

He gave up well over 1M in lower paid wages over that 35 years either way

flyguy81

I was a late ‘15 hire. So didn’t get anything for 2015. First PS payout was in ‘17 for ‘16.

I’ve maxed out my 401k portion since 2017 (2nd full year here).

I’ve had money paid into the Empower PS account from (‘17-20). You fill up your portion, the company adds their %, PS fills the rest of the bucket and anything that spills over is returned as cash.

I started filling the bucket and got cash back in 2018 for the ‘17 work year. PS for 2016-2019 was a good % so that helped. If you were hired recently and dealt with Rona years obv your experience is different.

I was crediting a lot (140-160/mo). Longer I’m here, the less I need/want to work. I did a 140 avg last year and am planning on 115-120 this year with upgrade on the table.

Can’t speak for everyone…but that’s my side.

bleedair

Maybe I misheard him..

nene

C'mon Man, Elon, leave the elders to their mismemories.......

If the president can claim he hung out with Corn Pop and was a youthful civil rights marcher, then an old retired SWA pilot can claim that he's made over $1M in profit sharing.

Good for them both if that's what they believe and makes them "happy".

Crockrocket95

Well it probably went into an investment account that matured to over 1 million over 30 years... I don't doubt that.

MudhammedCJ

You'll max out way faster than the top half of the list did and get all of it back due to the B-fund we didn't have (if we ever get profit-sharing again that is.) By the sound of it though many of you need to learn how to balance a checkbook rather than whine about a couple grand going into a retirement account vs your pocket. I have a friend who fits this money management profile. He looks like this...
https://youtu.be/2wnvE2HU0xk

ElonMusk

You have NO idea what others are doing financially or the difficulties they might have. It should be a personal choice in how to receive their PS, if it ever shows up again. I mean I have no idea if someone’s parents racked up a 250K hospital bill because they didn’t get the shot…no idea nor do I care. It’s about choice….simple as that.

The biggest issue is making line pay, min pay, you can not max out 415 limits till one is a Captain. How about we work on fixing that issue?