BA: financially, when is it no longer worth it?
Ladies and gentlemen,
I need to do some serious number crunching. Currently at EZY and considering BA. If I was 25, it would be a simple decision. But I'm getting dangerously close to 40 and I'm not sure the numbers add up.
Based on PPJN info, I put a spreadsheet together comparing total income over 25 years (let's assume I'll be 40 when I get in). In my spreadsheet I considered the worst case scenario where HMRC will tax flight and duty pay. They've been doing that at EZY since April, so you never know.
The other factor included in the spreadsheet is pension. EZY contribute 9% and BA 12%, so I accounted for an extra 11% personal contribution for EZY and 8% BA (I want total to be 20%).
Finally, I used Captain income for EZY (including bonus) since I am close to command course). For BA I used command at year 11 for short haul.
The numbers below are my best guess for BA NET monthly income, including flight/duty pay, after pension contribution for 25 years:
1 3318
2 3433
3 3548
4 3663
5 3778
6 3893
7 4008
8 4123
9 4238
10 4353
11 5344
12 5452
13 5560
14 5668
15 5776
16 5884
17 5992
18 6100
19 6208
20 6316
21 6424
22 6532
23 6640
24 6748
25 6856
If I add it all up over 25 years, it gives me £1.55 million. EZY total gives me £1.60 millions, so it's pretty much the same. EXCEPT THAT... my pension would be far better with EZY because I would earn more earlier.
If you work for BA, could you please check your years of service and compare you monthly NET with the figures above? Am I vaguely close to actual numbers? Remember this is with an additional 8% pension contribution.
Best regards,
P