Hi,
Need to check something. Cloud9 you state for BA to be a difference of £800 per annum and i'm getting no where near that.
Based on your numbers (I know the new basic has gone up by 3% but for this we'll start with 49K.)
So based on 23 incremental rises of £2800 for PP24 the top rate would be 49000+(2800*23) = 113,400.
Now, based on the same top rate (113,400-49,000)/33 = 1951 increments for PP34 but for simpler maths lets call it 1900.
Now by simply adding the incrematal increase for each starting from year 1 this is what I get.
Yr 5 PP24 - 60,200 PP34 - 56300
Yr10 PP24 - 74,200 PP34 - 65,300
Yr20 PP24 - 102,200 PP34 - 84,500
Yr24 PP24 - 113,400 PP34 - 92,100
Now continue this on for PP34.
Now at year 24, a pilot on the "old contract" would've earned a basic salary of £1,948,800 to this point in thier career.
A pilot on the "new contract" would have earned £1,684,800 at the same point.
Both pilots have a life expectancy of 34yrs flying with the company.
Now seeing that the "old contract" guys are now top they will continue to recieve £113,400 for the next 10yrs meaning they will earn an extra £1,020,600 and so making their total basic salary earnings over
34yrs = £2,969,400.
Right, "new contract" guys will continue to get the rise until Yr34 and thus make their career basic salary £2,710,300. (there is a 3.6% error in here but could not be bothered calculating it again)
Now difference between old and new is £259,100.
Thats a house in some places of the UK. Now if you look at your BARP pension based on £49K 5% employee and 12% employer contributions this would give a pot £364,859 or 25Kpa till 80yrs old. (
UK Pension Calculator and Annuity Calculator)
Of course the guys on the old contract could have pontentially an extra £259,100 to add to that pot.
So for those starting at the begining of March at the age of 31 (should the yes vote go through), think of how much you will earn now compared to the someone aged 31 starting a week later.
People bleat on this fourm about how low cost pilots are to blame for everything for not standing up for t&c's but it now looks like the legacy guys are doing the same.
And why that? Its cause I'm alright Jack!
Maybe this should be in the BA DEP thread but what I'm trying to get at is that the grass isn't always greener and there are certainly limited lush pastures in ba unlike evryone seems to think.
Lifestyle, money, girls, aircraft, whatever. You dont always have to follow the sheep. Its your life and what makes you happy is different from what makes me happy.
Anyway,
safe flying!
Disclamer: These figures may not be 100% accurate and spelling and gramar mistakes have been left in to keep everyone happy. I've been up since 4am testing landing gear around europe and would like to apologise for the earth tremmor in eastern Europe at 0916z today. Sun was in my eyes.