Well you all know what I think about
Unions...
That aside the facts are:
If you think there is a pilot shortage and it will get worse in the future:
You are a chump to take a 3 - 5 year agreement unless it is something special.
If you think the pilot shortage has peaked and there will be a big downturn in the demand for pilots:
Lock in what you can now.
Remember that a 3-5 year agreement transfers the risk of inflation and a blow out in pilot wages to you (i.e. away from Jetstar). It's all about risk. If Jetstar can transfer the risk to you they win (when calculating future costs they don't have to factor in a percentage chance of a large increase in pilot wages). A transfer of risk makes their forecast figures look a whole lot better. (i.e. Imagine that in 6 months time inflation hits 6%... do you want to be stuck on an arrangement for years that provides less than that?). That's what companies like to do - lock in something that they consider a risk.
You may not like my opinion on "market forces" but you need to use then to your advantage whilst you can. Short term agreement is the way to go
Lock them into something short term and they'll have to re-negotiate when the numbers are worse than they are now.
I hate unions - so I'd say don't let the
union lock you into something in the long term that may make you look like a chump in 2 years time.
Having said all that, you should
NOT attack someone who likes their offer when moving up from a job paying significantly less. They have their family to look after and that is and should be their main concern.