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Old 18th October 2007 | 02:17
  #52 (permalink)  
Numero Crunchero
 
Joined: Oct 2006
Posts: 651
Likes: 0
From: Hong Kong
Just numbers

Whether you want to join EK or CX for reasons other than money is something that cannot be quantified. What can be quantified is the take home pay in both places over time.

The following assumes ERP is paid(7.5% at the moment for UK/AUS/NZ). It assumes 16% tax paid by CX staff - given that education and home purchase allowance are taxable the final average rate is likely to be slightly above or below 16%.

I have assumed no cost of housing -ie CX staff use RFZ. I have not given any value to free utilities or limo pickup in DXB. I have not adjusted EK salary for lower PF (EK 12% for first 10 years then 15% - fully vested after 7 years vice CX at 10 years). I have not included 13th month in hkg -nor have I included EK profit share which has averaged more than a months share over last 5 years.

I have included the imposed 3% payrise for CX but NO payrise next May for EK(payrise every year for recent past).
12 years till command in CX and 5 years in EK. Same hours for both with no overtime for both.

Monthly after tax take home pay, HKD

year 1
CX 29,882 (SO 1)
EK 54,010


year 5
CX 59,258 (FO 1)
EK 60,002 (FO)
year 6
CX 60,209 (FO 2)
EK 82,532 (CN)


Year 10
CX 69,094 (SFO 2)
EK 91,880


Year 15
CX 98,760 (SCN 1)
EK 105,231
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