Some basic maths that these "passionate" guys do not either wish to consider or wish to call CX to receive the FACTS....
From the ACTUAL iCadet Offer HKPLA:
Assuming a 20 year old joins the CEP and retires at 62 (for argument's sake):
SO = $10k HKD / month (say for 4 years) = $480k HKD
JFO & FO = $14k HKD / month (say for 4 years as JFO & 6 years as FO) = $672k HKD
SFO = $18k HKD / month (say for 6 years) = $432k HKD
Capt1 to Capt2 = $24k HKD / month (say 6 years) = $1,728k HKD
Capt3 to Capt6 = $30k HKD / month (say 8 years) = $2,880k HKD
Capt7 = $36k HKD / month (say for last 8 years of your career) = $3,456k HKD
For a 42 year career the HKPLA AVERAGE: $9,648k total HKPLA "given" by CX / 42 years / 12 months in a year = $19,143 HKD per month.
The iCadet HKPLA IS NOT factored to CPI.
Let's be VERY, VERY, VERY conservative and say that inflation is only an average of 5% per year in HK for those 42 years (yeah, right....) gives a NET MONTHLY housing allowance of $2,478 HKD per month (an average of $19,143 HKD per month depreciating at 5% per year) over this illustrious career or "opportunity" CX are "giving" you!!!!!!! Then again, the "passionate" wannabes know all this already & can argue from an informed point of view.
Play with the figures, change what you want. They are only very kind and conservative at best. If anything, they will only get far, FAR worse. I only used 5% inflation where last year it was 22% alone!!!!
Now let's look at CX's lovely management culture. To quote from TT in the year ending 2010 statement where profit was $14.048 BILLION (9 March, 2011):
"...best ever year...." and then "...in line with our philosophy to share the rewards when times are good...."
And they bring in the CEP scheme by way of sharing the profits and "best ever year". What great team players.
The CoS08 figures are best described by someone better than me, although i have that document. In short, the "BASE" housing allowance is stated as being factored to CPI and is:
SO < 2 years at CX = $14k HKD / month
SO > 2 years at CX = $18k HKD / month
JFO & higher rank = $24k HKD / month
Assistance in excess of the base rates are:
Capts = $55k HKD / month
JFO/FO/SFO > 8 years at CX = $45k HKD / month
Rent Free Zone (RFZ) = $35k HKD / month where SO's after 2 years can choose 50% of the RFZ or the base rate (details of definitions too in depth....), as per others after 8 years at CX....
Also, those under CoS08 & other receive the upgraded housing allowance on commencement of an upgrade course. The iCadet package only upon gaining the new title. Consider that upgrades can last from start to finish many months: 6+ months at times considering ground school, sectors, etc.....
Do the maths & see what an insult this CEP is.
For those about to argue I'm wrong to have posted these figures, they are no secret and widely known in the industry, and readily available with minimal research. Anyone who does not know them and is applying for CX is a damn fool.
The decision is a no brainer, except for the ones who deny what they do not know.
For those able & willing, please correct where needed.
Last edited by ChinaBeached; 4th Nov 2011 at 08:02.