For Aussies
Well, I tried to do some comparisons on joining CX, EK or QF today.
I assumed command in QF in year 14(currently 14-15), CX after 9 years(will slide out to at least 12+ with RA65) and after 5 years in EK(currently 3-4years). Note, both EK and QF already have RA65 - but QF's only allows the older pilots to fly domestic and not all older long haul guys do the type transfer.
A career model is only as good as your assumptions. I tried to keep it 'apples with apples'. With QF I assumed the CX guy went on a base as soon as he cleared the JFO hurdle and then, later, only spent 1 year in HKG as a CN. I don't think that last assumption is valid now as RA65 will most likely reduce the availability of Aussie CN basings for quite a while - 10 years+ probably. No science to that assumption, just personal belief! ANyway, in the QF CX assumption the CX guy would have been in Oz for more than half of his first 10 years subject to the same aussie taxes but not enjoying free parking and long service leave;-)
For Emirates I think it only fair that I 'gross up' their earnings to equate with CX salaries. That is, $100K HKD equivalent tax free is really $119K (ie $119K less 16% tax is $100K). I have not included their ERP(Exchange Rate Protection) pay which is up to 7.5% of their salary. This is paid regardless of when you joined. It is paid if your home currency has appreciated over the last 5 years versus the USD(Dirham is also pegged to USD at 3.66). At the moment, Aussies, Canucks, Kiwis and Poms are getting the maximum of 7.5% ERP and have been for the last few years. Like I said, I have NOT included the ERP in these calculations.
In simple terms, ignoring tax etc and using recent exchange rates.
After 10 years in QF you would be 25% ahead in gross earnings vs CX.
After 10 years in EK you would be 28% ahead in 'net' earnings vs CX - with ERP it is in excess of 30%(7.5% applies to salary, not their HDP).
Note - EK and CX career comparison is more accurate as both treated as expats - assumed constant 16% tax in HKG.
EK profit share averages more than 4-5 weeks a year. If you apply current CX profit share formula to last 15 years, you get an average of 10 days profit share.
It is very difficult to accurately compare different airlines with different pay/rostering rules in different tax jurisdictions. For example, I(with the help of an Aussie based friend) recently did an analysis of 10 AIrbus aussie based CX CNs using QF rostering rules and payments. Their average pay would have been $260K vs their CX pay around $205-$215K. Now, QF guys of that seniority would have defined benefit schemes vs CX 15.5%. And QF get free parking, free taxis for about half of the trips and long service leave which has NOT been included in the comparison.
Why did I choose 10 years? Because over 2/3rds of our pilots have been in CX less than 10 years. I can easily do the calculations for 5 years or 25 years. But how many of us plan to be in HKG for 25 years?
clear as mud?