The Smart Marty Sky Dispatch
Business Aviation Continues Strong Wage Growth
The global workforce requirements are expected to rise with the addition of more corporate jets and turboprops in the next 20 years, according to AirComp Calculator. The post Business Aviation Continues Strong Wage Growth appeared first on AvBrief.com.
AirComp Calculator, based in Dallas, Texas, forecasts continued growth in compensation for air crews in the business aviation sphere in the next several years.
AirComp founder Dr. Chris Broyhill, CAM, predicts that the unanticipated rise may leave flight departments behind in the hiring and retention game if they plan only the 3% to 4% pay increases based on traditional forecasting, and the 3.4% national rate for workers in the U.S.
Because of the ongoing strong demand for flight crews—especially among high-end long-range and super mid-size platforms—flight departments wanting to retain their crews risk losing them to other operators or the airlines if they stick to nominal increases. With 4,300 pilots reaching the retirement age of 65 under FAA regs in 2027, a similar figure of new hires will likely be added.
“Sometimes a 10% pay increase won’t do it,” said Broyhill in a release. “The number has to be life-changing to want to pull up roots, relocate your family and start again at a new flight department.”
Broyhill spent 20 years in the U.S. Air Force, flying the F-16 Eagle and A-10 Warthog. He’s translated more than 40 years of aviation experience, including time running Part 135 operations as well as a flight department, into expertise in assessing pilot compensation. He relates the example of one survey from corporate Gulfstream G700 captains, which indicated average base salaries of $343,000. Kick in bonuses and top earnings, and the package looks pretty attractive. “People are just showing up to work flying an airplane and making 500 grand,” Broyhill said.
The post Business Aviation Continues Strong Wage Growth appeared first on AvBrief.com.