The following extract is from the Ryanair website. Seems that a low cost airline doesn't have to mean low cost pilot wages!
Why join Ryanair ?
1. Outstanding earning potential – Current agreement has Captains’ grossed up earnings running from STG£88,700 to in excess of STG£100,000 and First Officer grossed up earnings running from STG£66,000 to in excess of STG£70,620 *2.
2. Fixed roster pattern - 5 on, 3 off, 5 on, 3 off, fixed days off, no scheduled overnights permitting Pilots to plan their lives with certainty
3. Unrivalled Career Progression – potential for command within 3 years
4. Loss of Licence Insurance Cover of €190,000
5. 5 Year Agreement on pay, benefits and share options
6. Share Option Scheme – which has seen returns of €230,000 in 4 years for existing pilots
7. Excellent Flight Benefits from day one
What can I expect to earn ?
The table below gives you an indication of the potential earnings for pilots in the UK.
UK based Pilots Earnings
- Extract from Ryanair Pilots UK 5 Year Agreement
Position 2002 Year 5 of Agreement
Senior Captain STG94,700 STG102,140
Captain STG88,700 STG96,140
Senior First Officer STG66,600 STG70,620
* 1 - Ryanair Pilots UK 5 Year Agreement * 2 -Currently pilots joining Ryanair are on phased sector pay for the first 6 months i.e. 50%. After six months on the line 100% sector allowances apply.
Rosters
Ryanair pilots enjoy a stable roster pattern which essentially allows them to plan their lives with a large degree of certainty. In the UK pilots work a basic pattern of 5 Earlies followed by 3 days off followed by 5 Lates followed by 3 days off, with the Roster issued 4 weeks in advance, in addition to this if you work a rostered day off you receive a Nett payment of STG£200 in addition to sector pay.
Share Options
As a Ryanair Pilot you may qualify for participation in our Employee Share Option Scheme which could give you €12,697 worth of options per year over a 5 year period subject to the company increasing post tax profits by 20% per annum. As part of the 5 Year Pilot Agreement negotiated in November 2000 our pilots were awarded an additional allocation of €127,000 worth of Share Options at €10.00. Our pilots like all of our people work hard and we reward them with a stake in the Airline. The table below demonstrates how valuable shares / options have become since Ryanair floated in 1997.
Growth in Value of Options granted to Ryanair Pilots
Year Granted Gain *
1997 - Floatation €118,974
1998 - Options € 38,743
1999- Options € 27,807
2000 - Options € 9,142
2000 - 5 year Agreement € 35,045
2001 - Options € 1,143
Total Gain to date €230,584
* * Based on closing price of €6.38 on 22nd January 2002. Reflects a 2:1 share split on February 2000 and a further 2:1 share split on December 7th 2001.
Our people share directly in the success that we have all created. A Pilot with Ryanair since 1996, and who has held all shares / options has made a gain of €230,584 in just 6 years !