barney31
So what, does Cathay need to offer in order make the package attractive
Re-introduce full expat terms for iCadets. Let’s make it quite clear, iCadets are on “B” scale pay just like we are on. It is the housing allowance and the children’s education allowance that needs to be brought back to make the package acceptable.
Under the current expat terms a DESO for the first two years is on 50% of the full rental allowance, which in November is HK$32,950.00. After two years it goes to HK$65,900.00 as of the November figures. Once you’re an FO with eight years of total service it rises again to HK$84,700.00 and as a captain it rises to HK$103,500.00 as of the November figures. These figures do vary on a monthly basis because they are pegged to the HK Government Rental Index. Once you sign a lease though your allowance is frozen for two years which is the term of your lease.
The company did introduce an education allowance for iCadets from FO and above a few years ago but it is only for schools in HK. Under full expat terms, the education is available from when you join as a DESO and can be used for education outside HK. Why the company has chosen to only let the allowance be used for education only in HK for iCadets is a mystery to me because at the end of the day it is a no additional cost item to pay for education outside HK. Infact it is often cheaper because of the % paid for overseas schooling, exchange rates and the extremely high cost of schooling in Hong Kong.
Now having said all this, I can also see an argument for an apprenticeship period so the company isn’t out of pocket for the cost of training iCadets. What form this takes is open for debate. My proposition would be to increase from 2 years to 5 years the time an iCadet who came through the long course is on 50% of the full rental allowance. An iCadet who came through the advanced course, 4 years and someone who came through the transition course, i.e. the equivalent as a DESO, the normal 2 years. In exchange for the increased housing the company would abolish the forgivable loan after 6 years of service.
There has been a distinct lack of interest for the iCadet scheme, especially for the transition course. The company has already had to improve the iCadet package three times to try and attract people, i.e. education, HKPA and the forgivable loan.