If Delta would have continued using the old formula to calculate top scale F/A compensation: $50,959 base pay $5,576 profit sharing $56,535 would have been your total compensation this year using old formula. New formula $4,246/month Jan-Mar ($12,738 total for first 3 months) Then 3% raise kicks in. $4,373/month Apr-Dec ($39,357 last 9 months) $12,738+$39,357=$52,095 base wage $4,271 profit sharing (due to reduction of payout from 15% to 10%) $56,366 total compensation using new formula. For the year, you will come out $-169. You will break even from the raise Delta implemented on the first pay check Feb 2015. (I will remind you that this takes place as we helped turn our company $2.6 billion profit) Richard Anderson is a Lawyer. While I dont despise him for his profession, Id rather have him working for me than against me. He knew that Delta employees would be upset (well, pissed) if they didnt get a raise in a year of record profits. Hes a smart man that wanted to keep the peace, yet not have a negative impact on Deltas financial bottom line, so he offered a solution. He offered a pay increase that was completely financed by a reduction of our own profit sharing. Genius!!! Anyone that believes Richard isnt worth the tens of millions of dollars that Delta pays him, well, youre sadly mistaken. Richard has a group of our own employees celebrating the financing of our own raise. He, along with Delta deserve recognition by Fortune Business as one of the Most Admired Airlines. When you can get your employees to celebrate the financing of their own raise, youre doing something right!
Posted on: Tue, 08 Apr 2014 01:32:25 +0000
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