Hello everyone,
I would like to correct Bob's posting abt the FO's package, particularly the gratuity........that is offered ONLY to SIA 744 FOs
as for service increment, i quote, 'it is reviewed on an annual basis and subjected to a max of 2.5% depending on considerations such as company performance, NWC (National Wage Council) reccomendations and other factors' (like SARS, war, any other sorry excuses). For the benefit of those not familiar with the NWC, they have been actively pushing for more competitive wages (i.e. lower wages) as well as more variable components in salaries which can be removed in 'bad' times. (up to 20% i hear). So far, SIA has been leading the way by adopting all these recommendations....promptly!
FOs won't be offered relocation allowance cos' SIA Cargo will only take FO on local terms, not on contract basis.
there's also the annual wage supplement of one month's basic. (13th month bonus) and profit sharing. they haven't work out the formula yet but rest assured it'll be ****ty.
There's also this so called 'out of base' allowance which pays S$6 an hour from start to end of the COP. This replaces the current meal allowance that we enjoy. Be aware that with the Sing dollar weakening, you'll be hard pressed to find food in Europe...even at McDs....a 'Mcvalue' meal can costs up to 8 euros!!
did i mention the tax at this bracket is about 16-20% (will probably rise very soon) and GST is goin to be 5% next year?
so if you're currently a young junior FO, single, you love being EXPLOITED, you love PUNISHMENT (16 days round the world COP with minimum days off after that) and you want a 744 rating then go for it. Just watch out for the bond thingy. If it's more than 3 years, then more consideration is needed....
If you have family, don't bother applying! If the COPs doesn't kill you, it'll sure kill your family life!