Originally Posted by
bts09
It looks like you're asking about a voluntary bump, that is, they call for volunteers and you raise you hand. In that case, they will set the compensation and you can agree or not. On domestic oversell situations, it usually starts around $250 and goes to $500--this is, of course, not cash, but rather a CO travel voucher. Internationally, it might start a little higher, but if you're feeling like staying another day, the real question is how much is it worth to you? And the higher it goes, the more likely someone will take it, so you might want to have a "squeal point" established in your mind, lest you lose out entirely.
The OP mentioned LY, so I started with LY. They always oversell the TLV-JFK routes and vice versa, and usually the EWR routes as well. There, pax (and people who fly often, not even FFs, with LY know to do this) try to check-in as early as possible to volunteer to be bumped. If succesful, they automatically receive one free roundtrip flight on LY that's good for minimum of a year, as well as generally a bump to C or even F on the next flight offered by LY. That's what I was saying...that the LY concept doesn't exist on practically any other airline.