EK Bonus 18 weeks but….

[Kapitanleutnant]

Have been hearing this one around campus as of late:

18 weeks but divided up into semi annual payouts of 9 weeks now and 9 weeks in 6 months. Which begs the question: If someone worked hard to make the profit for FY 2014 and leaves EK, will he get the rest of the 9 weeks he's entitled to….? Somewhat a rhetorical question.

Just what I'm starting to hear from several.

K

[nakbin330]

Probably not.

I'm sure the company is aware that there are many employees waiting for the profit share before they press the eject button, hence the rumoured split payout.

[Dropp the Pilot]

Why would anyone wait for the profit share payout before giving notice? It's quite clearly spelled out on the portal that they could have resigned on March 31 2014 and still receive the full profit share after having served their notice period.

That's by the letter of the law, historically it has been paid out in May so one could actually resign February 28 and be paid fully.

[LHR Rain]

The company would be hard pressed to withhold the 2nd payment of 9 weeks (if true) if in fact the employee left before the 2nd payment is paid.
The employee worked the whole year and earned that payment. Withholding it would be subject to legal proceedings.

[Emma Royds]

Withholding it would be subject to legal proceedings.

A case that would be as watertight as a sieve out here in Dubai, thanks to a third world legal system.

[givemewings]

Perhaps I misread it, but the profit share info on the portal says that in order to receive it, you must still be employed on the date any PS is paid out (within notice period is considered as still employed) but if your last day was before payout, bupkiss?

It's the same with backdated pay raises in airlines, they only apply if you still work there. Imagine if they had to pay every employee who'd ever worked there.... don't think that's gonna happen!

So did I misread it, or....?

[trimotor]

If it's true EK, and it has that horrible ring to it, the damage will be spectacular.

[harry the cod]

Calm down, calm down. Everyone getting their knickers in a twist over a thread started by someone believing a rumour.....because he's heard it more than once.

There are a chosen handful, high up in the chain, who know how much we've made and how much is in the kitty to give out. So, regardless of your best mate who has it on good authority from a reliable source that has always got it right in the past, the truth is nobody knows for sure until the announcement is made. We go through this nonsense every single year. 30 weeks, 18 weeks, 8 weeks, half now, half in November.....it will be what it will be.

And it will be paid in one go!

Harry

[Jet II]

18 weeks but divided up into semi annual payouts of 9 weeks now and 9 weeks in 6 months. Which begs the question: If someone worked hard to make the profit for FY 2014 and leaves EK, will he get the rest of the 9 weeks he's entitled to….? Somewhat a rhetorical question.


You are only 'entitled' to what it says in the EPM - ie: you must be employed on the date of payout. What it doesn't say is how many payout days there will be.

Even then they could change the rules tomorrow and what would you expect to do about it? - complain to your Union rep? :rolleyes:

[Kapitanleutnant]

Harry…

Would you really think EK would not do or at least consider doing something like this… given their track record with unilaterally changing pretty much anything they want, whether its in the manuals or not? EK can and will do anything they want… always to their benefit.

Personally I don't think this will happen but these days, nothing really surprises me anymore.

Kap

[Popgun]

Even then they could change the rules tomorrow and what would you expect to do about it? - complain to your Union rep?

BWAAAAHAAAAA :{:{:{

PG

[L1011]

Many moons ago, when the very first profit-share was paid, it was split into two payments. The May and September pay checks if memory serves.

Since then the EM states that it will be paid in the May paycheck. But that could be changed I guess.

[777Goose]

JUNE:ugh::ugh::ugh:
If using the word 'states' please then get it correct!:=

1011
I'll delete as soon as you correct :)

[777-200LR]

Many companies do such splits when paying out bonuses. They gain on the interest by keeping the cash in hand for 6 months longer. I personally have worked for a previous airline that does this.

If the split does happen, its more for the CC sake than anyone else.

[Check 'Six']

It's always been May pay check. Along with Pay review letter which needs to be deciphered by a cryptologist.

Here's hoping for: Change in draconian attitude
Massive profit share
Well deserved and overdue pay rise
Once we get the pilots we need in place?? Good rosters

And as always, Check Six

[Jet II]

It's always been May pay check.

Hope so - because I'm out the door at the beginning of June.. :ok:

[lospilotos]

Just go to the portal and get the facts. It says clearly that last day of service needs to be after payroll payout date and that payout date is "normally" the June payroll...

[JAYTO]

Agree With Lospilotos

It is clearly stated on Group World. You need to be in employment at payout date.

'Payments resulting from this scheme will normally be paid in the end-June payroll'

Jet 11 that could be an expensive couple of weeks early departure.

J

[alwayzinit]

IF and its a big if, we get anywhere near 18 weeks and IF its split into 2 payments.
Does the brain trust think it will keep guys from leaving or be just more proof, if any more was needed, of the band-aid solutions being applied to a potentially terminal problem.
The failure to recognize that band-aids are not enough to prevent the haemorrhaging of a skilled workforce will see this once mighty beast brought to its knees. Once there no-one will help it up, though up the road may buy it cheap.

[170to5]

I think that guys will leave richer than they would have been when they left, had they not got the profit share!

[fliion]

To clarify a posting above concerning the Pay Review letter. That comes later. Last year it was June 16th. The year before it was later as they needed time to think it over - which resulted in a pro rated pay increase over a two year period of.....wait for it...

0.25% (if you're new to the neighborhood that's not a joke)

f.