NetJets Europe Pension - Factual Info

[Sterlingsky]

I have done a search to find any factual information about the NetJets Europe pension, but all I can find are messages from people complaining about how crap it is, but nobody ever gives any hard facts about the pension explaining why they think it is crap.

Can anybody provide any numerate facts about the pension to enable me to form my own opinion about whether it is good or not? For example: what is the employee contribution versus company contribution? Is it final salary or average salary pension? Etc.

Any constructive insight is appreciated. Cheers!

[redsnail]

It's not final salary. Very few new ones are these days.
It's based on what you put in and does have company contribution after a certain number of years.

It's not the best pension around.

I believe the guys on the European contract is slightly different but it's being looked at.

I see you've changed your name.

We cannot make up your mind for you. I am not sure if you're on the next cadet scheme. Do you want to fly bizjets or are you just after any sponsorship? I met some of the cadets on the course and they are 100% committed to flying a bizjet, not an airline. (of course, they may decide to have a go at the "airline flying" but for now, bizjets is where they want to be)

I fly for Netjets because I love flying bizjets and the world of routine airline flying is boring to me. At your stage, I'd be more concerned with getting any job. Very few people will stay with one employer for 30 + years these days.
You'll be doing very well to join a company now and get a final salary scheme. BA (for example) has a very big pension deficit so what's available now probably won't exist in 20 years time.

It is difficult to give you perfect answers to all your questions as the situation does change at Netjets and the contracts are being tweaked to reflect staff's concerns and queries. Also, we have all signed agreements so a lot of the fine detail we cannot post in a public forum.

[Sterlingsky]

Redsnail - thanks, I appreciate your response and I value your views.

I think I may fly for NJ for a couple of years and then transfer over to the airlines. I think I would find the flying and the variety of destinations very interesting, but I also think I would get tired of the 6 on / 5 off roster and staying in hotels 18 days a month. Each to their own I guess.

How long have you worked for Netjets? I have to admit that i think my ultimate ambition is to fly the widebodies for the airlines, but i appreciate that getting your first job is always hardest.

Do you think it is realistic that i could fly for NJ for 2-3 years, build my hours, and then transfer over to the widebody jets on the airlines? After 2-3 years at NJ I'd probably only have about 1000 hours, so i'm not sure how attractive this would be to the airlines.

Changed my name as the other one wont login - says something about the server being too busy.

[Chippie Chappie]

Sterlingsky,

To be honest, I think you may need to look long and hard as to whether or not you really want to be pilot. The very nature or the job is to spend time away from home/loved ones. It has its advantages and disadvantages.
Most when they start are pleased you have ANY job, though you do get the odd pompous tw*t who thinks that anything smaller than a 737/A320 is beneath them.

In the bizjet world, a guaranteed 13 days off (at home) per month with a roster is envied by many. Other sectors of the industry have you home every night (or nearly every night). LoCo Carriers like Ryanair and Easy offer this, pay you well, you build your hours quickly and have reasonably quick command prospects if you make the grade. However, they will work your b*ll*cks off. Your home time may not be "quality" home time.

My only suggestion to you is that if you want to end up in an airline, start in one. There have been few times when there's been a better opportunity to do so. £66,000 is a lot of money to spend on something you're not sure of.

Good luck,

Chips

[redsnail]

I have worked for NJE for over 2 years now. Hopefully will change onto a bigger type in the next 2 to 3 years.

You seem to not like the idea of staying in hotels for 18 days a month yet you want to fly a wide body. The wide bodies generally do medium to long haul and they spend a lot of time in hotels too.

Our roster pattern quite frankly dumps on many airlines, esp lo-co. A fixed pattern roster is seen as a good thing. I got a mate in BA on the short haul fleet and he told me his roster. Crazy stuff. 1 day off in between a 3 or 4 day week. No plan or structure to it. (He's a captain!)

In 2-3 years in Netjets you'll accrue about 1000 to 1500 hours or so. Will you be able to jump straight into the airlines and fly a wide body? Who knows? Will they be recruiting? The industry is very cyclical and we've just seen a boom time. I am sure you can work out what comes next after a boom. Note, Netjets Europe and USA haven't laid off a pilot yet because of a economic downturn. Virgin Atlantic has!

Will you be attractive to them? In the past many airlines tended to sniff at corporate pilots. I feel that this attitude will change as more airlines get to know Netjets, TAG, Privatair and other large corporate companies. Full sim training, airline style SOPs and demanding flying will make us very attractive in the future should we wish to move on.

Personally, if you want to fly for an airline, go join an airline.

[bizantin]

sorry to contradict you again redsnail but if he joins on small cabin, it might take much longer. Expect maximum 350hrs per year...3times less than ryannair and probably as tiring.

[redsnail]

Strewth!! Oh well, judging by the rest of sterlingsky's posts he won't be joining NJE any way.

[south coast]

Is this joker the same person who called himself nimbus in some previous thread?

If so, lets hope he doesnt get in cause he sounds like a prat!

[wotan]

Its a credit to you that you have done all this research but bear in mind you still have to pass a wings course first. Dont get too hung up on pensions yet, it was defintely something i never thought of when i got my opertunity to get into the business. I was just delighted to get a chance to learn how to fly. A few years on and a pensions is definitely something that does become more relavent.
Everyone to their own thought, Am only offering advice.