I said a 3 year QF S/O on the -400 earns $110k (that's from the Group Certificate that I saw).
After tax of $39,080 (assuming
zero deductions) that's a net income of $71k. If you have any reasonable negative gearing, say $20k per year, your tax bill becomes $28,180 which gives a net income of $81k. So somewhere between $71k (zero deductions) and $81k (negative gearing)
after tax - for an
S/O!
These are very different tax numbers from what you gave above. Mine come from the Australian Tax Office, see <A HREF="http://www.ato.gov.au/content.asp?doc=/content/Individuals/individual_resident_income_taxrates_1999_2000.htm" TARGET="_blank">http://www.ato.gov.au/content.asp?doc=/content/Individuals/individ ual_resident_income_taxrates_1999_2000.htm</A> for the tax tables for the 2000-2001 tax year if you don't believe me.
You claim that a CX S/O in the same position, flying the same aircraft (B747-400) takes home $92k after tax. At what exchange rate is that - seems to be at the current rate of about HK$4 to A$1. The long term exchange rate is closer to 5.5 to 1, and between about 1995-1998 it was over 6 to 1. At the latter exchange rate your CX S/O is taking home (by your figures, which I can't verify) about $61k - $10k less than QF.
Put it another way, the exchange rate at which the after tax pays of CX and QF S/O equal (again, by using your figures) is between 5.1 (zero deductions by the QF guy in OZ) and 4.5 (negative gearing). What do you think the exchange rate will be in the near future?
All of this ignores the other problems with CX which aren't at QF - seniority, time to command, cost of pre-school and primary school for children in HK being way too high, etc. On straightforward salary I can't see the CX guys being that far ahead except for the current unusually low exchange rate, and even then there is not much in it. After it gets to 4.5 to 1, or 5.1 to 1 (depending upon deductions for Oz tax) then the QF S/O is ahead on salary as well.
[This message has been edited by zonker (edited 08 December 2000).]