Gusher said:
Remember the CIP and Enhanced CIP go off basic pay only. The top of the band for a level 12 minus locality is $145,637 (as of Jan 2017).
So the initial CIP which runs out of money would be $14,563 for someone at the CAP
and the Enhanced CIP (the additional 15%) would be about $21,844 for a total of just over $35,000. That is for someone already at the max for a level 12 or if you are offered the cap for a raise. That is also when you check out, unless you are a prior N90 certified controller.
Here-
Base: $116K
Locality: $24K (currently 20.7%)
CIP: N/A
Total= $140K ($67.3 a hour)
There-
Base: $116K
Locality: $36.2K (currently 31.22%)
CIP 10%: $11.6K
CIP 15%: $17.4K
Total= $181.2K ($73.1 a hour)
Difference versus now= Almost $42K
Like I said above, it still isn't enough as $17K of that $42K difference will be gone to taxes. Rent/house payment will easily take up another $1K a month. So now, we are down to $12K to pay for groceries, transportation costs, insurance, etc. and the premium of living on Long Island. The only guaranteed difference (after the four years of course of 15% CIP) is the locality difference of roughly 10.5% as CIP can be pulled/run out of money.
What they should do:
Base: $145.6K
Locality: $45.4K (currently 31.22%)
CIP 10%: $14.5K
CIP 15%: $21.8K (guaranteed 10 years not 4)
Total= $227.3K ($91.8 a hour)
Move money: $100K like in 2008
That is honestly what it will take to staff that building, on Long Island, in the short term.