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Old 7th May 2014, 10:36
  #83 (permalink)  
LastPastthePost
 
Join Date: Dec 2013
Location: EGLL
Posts: 47
I just did the Maths on the Finance, with some assumptions about time to command (ie 9 years at easyJet and 18 years at BA). These are based on Oxford's PARC Finances and exclude any tax implication of bond repayments, bonuses and differences in Interest Rates etc.

To summarise:
* There isn't much difference between BA and easyJet in the first 8 years.
* The big difference hits when you get your command at easyJet.
* In the 10 years where you are a Captain at easyJet vs SFO at BA, you accumulate 420k more in pay.
* After 30 years (which is when I would want to retire) the deficit is reduced to 200k.

For me, 1st Class Travel and Long Haul isn't such a big issue. I like my own bed and my own time zone. Likewise seniority is a big negative for me, I'd rather have weekends off when hopefully the kids are growing up than when I'm nearing retirement. Also I think the below highlights that your taking a 400k bet that BA is still around, needs Captains and the pay delta still exists in 10 years time. My preference is that I would rather have the cash in my pocket. The contract is a negative point, but one that I'm comfortable with. The regional point is a positive for me, not just within the UK but across Europe.

I also get your point about wanting to fly for BA. I agree that our generation has been brought up in an environment that people aspire to fly British Airways. Who knows if that will be the case in years to come?

So I think the easyJet MPL and the Future Pilot Program are both great initiatives. Your choice on which one is your preference does probably boil down to your Career aspirations of Long Haul vs Short Haul.

YEAR BA easyJet Deficit
1 45,425 38,750 6,675
2 50,704 38,000 19,379
3 55,982 57,006 18,355
4 63,372 70,396 11,331
5 69,707 70,396 10,642
6 72,874 70,396 13,119
7 75,513 70,396 18,236
8 65,842 70,396 13,682
9 68,171 121,005 -39,152
10 70,500 121,005 -89,656
11 72,830 121,005 -137,832
12 75,159 121,005 -183,678
13 77,488 121,005 -227,195
14 79,817 125,696 -273,074
15 82,146 125,696 -316,624
16 84,475 125,696 -357,845
17 86,805 125,696 -396,737
18 89,134 125,696 -433,299
19 131,035 125,696 -427,961
20 133,590 125,696 -420,067
21 136,146 125,696 -409,617
22 138,701 125,696 -396,612
23 141,256 125,696 -381,052
24 143,812 125,696 -362,936
25 146,367 125,696 -342,265
26 148,923 125,696 -319,039
27 151,478 125,696 -293,256
28 154,034 125,696 -264,919
29 156,589 125,696 -234,026
30 159,145 125,696 -200,578


Notes:
Payscales are based on pilotjobsnetworks and Future Pilot Program Presentation.
BA Drops at year 8 after the bond is repaid
For easyJet I assume 600 sectors per year (ie 150 working days, 4 sectors per day)
I include the current loyalty bonuses for easyJet ie 5, 10, 15 salary.
For BA, I assume a linear progression from paypoint 1 to paypoint 34.
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