finance again...
Hi all.
returning to matters of a fiscal nature I'm afraid.
I think we had some agreement on it costing the cadet ~£100k out of salary over 7 years.
M4v3r1ck had summed up the comparison with a self funded intergrated course pretty well.
2 points are:
- the £100k reduction is from gross salary and might be the equivalent of taking about £65k from net salary.
- this is still a premium over a self funded integarted course but we get a type rating and best chance of a job
Therefore, I still think all in all that this is a better deal for risk averse wannabes than a self funder integrated option.
HOWEVER, lets look at it from the airlines perspective:
They take us on and save £100k out of their salary payments. Now i believe employers NI contributions on employees salaries would add 12.8% to this saving.
Now does the cost of all this training the cadet receives really add up to £128k???
CTC would have us believe it costs about £100k but even this I would question (plenty of other posts on this thread have argued this).
My belief is that EJ are using this as a cheap way of recruiting their future pilots!!