UK military pay rise 2007

[MadAxeMan]

£59k (after tax), not nearly enough.

So is that the extra £50k at the end of the five years' commitment? Or £100k (minus tax and NI) up front? Must say, I agree D-IFFers; guys on staff college or in the boarding school trap will take the cash and be jolly happy. Nonetheless, given that Easy (for example) have reportedly suggested fast-track command for suitably qualified RAF chaps, with a salary of £75-80k plus the pension... is there a choice? Other than Virgin, ofcourse, who are hiring again..

While the FRI, @ £100k sounds like a lot of wonga, and might put a healthly dent in the mortgage; it really is not when factored over 5 (or 20/25) years.
As a Sqn Ldr (ME) Pilot, pondering the Stay/Go question, I have done a quick and dirty Cost/Benefit calc.
Here is a quick summary of my observations :

• If you go for the maximum commutation option (the only sensible choice), it does not matter when you leave, the gratuity amount is the same. So no advantage in staying.
• As a mid term (4 year) Sqn Ldr, for the five years extra that you would serve, you lose £50k of pension payments with commutation, (or £65k without)!
  So you're either £9k up (or £6k down), temporarily. So slightly up (or down).
• If you decide to play the promotion / staff college gamble, and stay 5 years just to see, the cost of delaying (say Virgin Atl) Captaincy by 5 years will cost you £100k, plus about £5k per year before and after (10 to 15 years). Massive disadvantage in staying, if the gamble does not pay off.
  

• All in all that is over £200k, so £300k before tax.
• However, factoring in a 2% pension increase, standard (VA) pay-rises etc, this RFI breaks even at age 110, optomistic for many of us.
  
  The RFI actually needs to be £400k (before Tax) in order to break even at aged 80, or £500k to break even at age 60.
  'nough said .

In sum, the FRI is merely a sweetener for those who are intent in staying anyway. And good for you, you deserve it for putting up with the carp (bombs and bullets, lack of support from Govt, poor eqpt, waste and mediocre leadership) for another 5 (and probably 15) more years.
So, while a tough decision , I'm otta here in 300 days (150 for my last duty day, on that big white Gozome 747 )
MadAxeMan (>|<)