Very odd

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Aspiredtofly
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Very odd

Post by Aspiredtofly »

https://www.voyav.com/ResumeWizard/JobD ... DjbAH0EA6M

Total time: 500
Starting salary: $48,464/year

Are we finally seeing a change in the industry?
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LTR123
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Re: Very odd

Post by LTR123 »

I started there as a KA FO in 1998 with 3000 hours at $19000.00 which, in today's dollars, is around $33000.00. Yes, that's a bit of an improvement.
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Vanguard
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Re: Very odd

Post by Vanguard »

LTR123 wrote: Tue Nov 29, 2022 5:19 pm I started there as a KA FO in 1998 with 3000 hours at $19000.00 which, in today's dollars, is around $33000.00. Yes, that's a bit of an improvement.
What was a cost of home back then?
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LTR123
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Re: Very odd

Post by LTR123 »

Vanguard wrote: Wed Dec 21, 2022 1:57 pm
LTR123 wrote: Tue Nov 29, 2022 5:19 pm I started there as a KA FO in 1998 with 3000 hours at $19000.00 which, in today's dollars, is around $33000.00. Yes, that's a bit of an improvement.
What was a cost of home back then?
I did adjust for inflation. Also, today a 500 hour pilot gets the job, not a 3000 hour pilot.
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skyhighh
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Re: Very odd

Post by skyhighh »

LTR123 wrote: Thu Dec 29, 2022 9:18 am
Vanguard wrote: Wed Dec 21, 2022 1:57 pm
LTR123 wrote: Tue Nov 29, 2022 5:19 pm I started there as a KA FO in 1998 with 3000 hours at $19000.00 which, in today's dollars, is around $33000.00. Yes, that's a bit of an improvement.
What was a cost of home back then?
I did adjust for inflation. Also, today a 500 hour pilot gets the job, not a 3000 hour pilot.
Unfortunately official inflation isn’t accurate when it comes to housing. Based on your exemple from $19000 to $33000 we are looking at a 70% (ish) increase of wage. The housing market didn’t go up by 70% in the last 15 years… A condo I bought 275K in 2016 is now worth 800K. And we are talking about a shoebox… We were looking at buying a house that was sold to the current owners in 2016 for 400K, now going for 1.2mil (setup for a bidding war). You can’t compare the cost of living from 1998 to now, it just doesn’t realistically work.
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LTR123
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Re: Very odd

Post by LTR123 »

skyhighh wrote: Sat Dec 31, 2022 9:09 am Unfortunately official inflation isn’t accurate when it comes to housing. Based on your exemple from $19000 to $33000 we are looking at a 70% (ish) increase of wage. The housing market didn’t go up by 70% in the last 15 years… A condo I bought 275K in 2016 is now worth 800K. And we are talking about a shoebox… We were looking at buying a house that was sold to the current owners in 2016 for 400K, now going for 1.2mil (setup for a bidding war). You can’t compare the cost of living from 1998 to now, it just doesn’t realistically work.
Since I've lived through this period (and more) as an adult I certainly can compare the cost of living from 1998 to now. Yes, because of insane government policies that constrain supply, housing is more expensive. On the other hand, the cost of money has been very low for quite some time and is only just going up.

When I was 21 there was no such thing as a multi-crew, multi-engine flying job for a 500 hour pilot and there was also no such thing as a 3% mortgage; you got a variable back then for 10%.

The CPI is designed to compare the cost of living over different time periods and shelter costs are included.
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