The pay deal is being tabled is 8.5% which does sound fantastic, but you have to take into account that it isn't all being paid in one lump. It is a two year deal and for some reason, the performance bonus of 2% is being included as part of the pay rise - now to me, a performance bonus is not a salary increase as a performance bonus is not guaranteed (ok it is this year, but not next!).
As the pay deal is not all being paid in one lump, it should be treated the same as a bank does with interest rates, i.e. APR'd as the 8.5% isn't payable all in one go.
I have calculated how much better off I will be - over the course of the 2 year deal, I will be around £1100 better off, but with what we are getting in year one, just around about £500 better off.
Crew need to step back from the 8.5% figure and work out for themselves how it compares for the 2005 deal and then the 2006 seperately.
Not sure how I will vote yet, need to seriously think about this one as striking isn't something I would want to do
