Halas, fair play to you, its great to see you are happy there.
As I said in my original...nothing against EK, but the stampede to join up just seems misguided.
Just one question regarding your post.
You mention 14 months pay per year.
I've 'visited' other companies in that neck of the woods who pay a 13th month at around Xmas/New Year.
All the staff seemed to think this was great...a bonus month!
Fact is of course that if you divide 52 weeks by four you can see that while there are 12 calendar months in a year there are actually 13 'pay months' (i.e. four week blocks).
If you were being paid 12 months wages for 52 weeks work you would in fact be getting ripped off! But I expect you knew that.
Whats the 14th month? Is that the bonus payment? Is it guarenteed or 'discretionary'?
Fish,
I forgot to mention that you can own your own house here (Dubai) what's more, the company contribute!
I understand the property market in Dubai is not as free as we might be used to in the mature economies of the west. For instance, while it may now be possible for non locals to own a house there, what about when it comes to selling? Are there enough non local buyers to create a real market for your property?
In my corner of europe I've seen property prices increase an average of 200% in the last ten years. My own gaff is now worth three times what I paid for it 6 years ago. Partly this was driven by a shortage of building land. Last time I was in Dubai I could see no shortage of land. There is in fact loads of it. All flat and empty.
Will the Dubai property market show 2 0r 300% returns in the next 6 or 10 years?
Kinda risky punt I reckon.
There are better places to put yer money.
You say you don't know many UK pilots with 14 houses?
Oooerrr....I do!
A lot of them are in FR! Some even have massive houses/farms down the country too!
I know a lot of EK'ers are buying property in the UK on buy to let. So they should...it's their pension.
Fortunately mine's not reliant on the property market.
I much prefer the idea of a guarenteed final salary pension, underwritten by a strong fund with pilots on the board of trustees, to a few quid being thrown into a mortgage in a sandpit.
I'd prefer to do my own property speculation on the side, and not have to worry about screwin it all up just before I hit 60.
Anyhow, owning a 2nd home in the Cote D'Azur is far nicer than a 22nd home in Dubai...or Canary Wharf.
